Software Acquisitions in 2018

KnowledgeLake has acquired RatchetSoft, a U.S.-based provider of attended and unattended robotic process automation (RPA) technology, in a deal finalized Dec. 31. The acquisition integrates RatchetSoft's RPA and IP into KnowledgeLake's cloud content capture and workflow platform, expanding KnowledgeLake's automation capabilities and adding hundreds of RatchetSoft customers and channel partnerships to its base.

Planview, the Austin-based work and resource management software provider, acquired Spigit, a San Francisco–based leader in crowdsourced innovation management software. The acquisition adds Spigit's innovation-management and machine-learning idea-analytics capabilities to Planview's WRM portfolio, enhancing its product and portfolio management offerings for enterprise customers.

WellSky, a TPG-backed health and community care technology company, has acquired Consolo Services Group, a Lexington, Kentucky–based provider of cloud-based hospice and palliative care software. The deal adds Consolo’s palliative care, adult day care, and memory care capabilities to WellSky’s hospice portfolio and retains Consolo’s headquarters and management leadership in Lexington.

Aquila Software announced the acquisition of Financial Risk Solutions (FRS), the developer of the InvestPro investment administration platform serving life assurance, pensions and asset management clients. Aquila said the deal will enable further product development and expansion of InvestPro's geographic reach while retaining FRS leadership and supporting long-term client relationships.

Strattam Capital made a majority growth investment in Rock Solid Technologies, a Puerto Rico-based software and IT services firm specializing in Microsoft Dynamics 365 solutions. The partnership is intended to accelerate Rock Solid's expansion into North American markets (U.S. and Canada) and support job creation and product growth.

Corsearch Inc., an Audax Private Equity portfolio company, has acquired Yellow Brand Protection AB, a Sweden-based provider of online anti-counterfeiting and brand protection services. The deal expands Corsearch’s digital brand protection capabilities and global coverage across marketplaces and social media platforms as part of its buy-and-build strategy.

Arena Solutions, a cloud-based product realization platform, acquired Omnify Software, a provider of Product Lifecycle Management (PLM) software for discrete manufacturers. The acquisition brings Omnify's experienced staff and customers into Arena's portfolio while maintaining Omnify's Andover office and product support to accelerate product development and expand Arena's offerings in electronics, medical device, aerospace and telecom markets.

Thoma Bravo signed a definitive agreement to acquire a majority interest in Apttus, a San Mateo–based provider of Quote-to-Cash, Contract Lifecycle Management and Middle Office software. The deal (expected to close in early October 2018) will pair Apttus’ enterprise revenue-management platform with Thoma Bravo’s software operating experience to accelerate growth and scale; financial and legal advisors and financing partners were disclosed but financial terms were not.

PennSpring Capital, a lower middle market private equity firm, acquired Professional Systems Software & Technology (PSST), a Louisville-based iPaaS provider serving K‑12 school districts, municipalities and corporate clients. The deal will fund product investment and expansion of PSST's customer footprint while preserving the company's mission and leadership team.

Volaris Group, an operating group of Constellation Software Inc., acquired Function Point, a Vancouver-based provider of agency productivity and project-management software. The deal supports Founder/CEO Chris Wilson's succession plan and aims to accelerate Function Point's growth through access to Volaris' resources, best practices and potential future product initiatives.

The Civica Group (through Civica UK Limited) has acquired VisionWare Limited, a Glasgow-based master data management (MDM) provider serving government and healthcare customers in the UK and US. The acquisition strengthens Civica’s digital transformation and customer data capabilities—adding single-customer-view and MDM expertise to support public sector and healthcare deployments and to accelerate growth in North America.

Cvent, Inc. announced it will acquire QuickMobile, a Vancouver-based pioneer in mobile event apps, to broaden its mobile event app and onsite solution capabilities. The acquisition (QuickMobile ~100 employees) is intended to deepen Cvent's attendee onsite experience offerings and extend its market reach through QuickMobile's partner network; the deal was expected to close before the end of May 2018.

Perforce Software, backed by Clearlake Capital, has acquired Programming Research Ltd. (PRQA), a UK-based provider of enterprise-grade static code analysis tools. The acquisition adds PRQA’s static code analyzers to Perforce’s portfolio to enhance software reliability, security, and compliance for mission- and safety-critical industries.

Uptake has acquired Albuquerque-based Asset Performance Technologies, Inc. (APT), maker of the Preventance APM and the Asset Strategy Library (ASL). The acquisition gives Uptake access to APT's library of failure-mode data for nearly 800 equipment types to enhance its industrial AI, build learning digital twins, and improve asset performance management for power generation, petrochemical, oil & gas, steel and other heavy industries.

Ministry Brands has acquired Sharefaith, a Medford, Oregon–based provider of digital worship products and church software, in a deal completed in February 2018. The acquisition expands Ministry Brands’ suite of software and content offerings for faith-based organizations and enables cross-selling of web, mobile, worship content, and donations products to Sharefaith’s ~16,700 church customers.

Clearlake Capital Group has acquired Provation Medical from Wolters Kluwer, making Provation a newly independent software platform to accelerate growth. Provation is a leading provider of procedure documentation, coding, and clinical decision-support software used by hospitals and ambulatory surgery centers; Clearlake intends to support product investment and pursue a buy-and-build growth strategy.

A joint venture called TH2 formed by Thor Industries and Tourism Holdings is acquiring Cincinnati-based Roadtrippers alongside Roadtrippers Australasia, Cosmos (an RV fleet/CRM platform), New Zealand peer-to-peer rental firm Mighway, and CamperMate. Thor is making an initial investment of about $50 million in TH2, which will be headquartered in Cincinnati and led by Airstream’s top executive; financial terms for the acquisitions were not disclosed.