Software Acquisitions in 2020

Command Alkon acquired Ruckit, Inc., a transportation logistics and trucking management software platform serving the heavy materials and construction industries. The deal expands Command Alkon’s CONNEX platform capabilities with Ruckit’s digital ticketing, invoice reconciliation, and third-party hauler management solutions; financial terms were not disclosed.

DaySmart Software acquired AppointmentPlus, an online appointment scheduling software provider headquartered in Scottsdale, Arizona. AppointmentPlus CEO Bob La Loggia and the company’s 100+ employees will join DaySmart, with DaySmart planning continued investment in product development and complementary acquisitions.

Onit, Inc. has acquired AXDRAFT, a Y Combinator-backed document automation company, to expand its contract lifecycle management and legal workflow automation capabilities. AXDRAFT, headquartered in Kyiv, will operate as an independent subsidiary under the name "AXDRAFT, an Onit Company."

StarCompliance announced a majority-control growth investment from Marlin Equity Partners to support product innovation and international expansion. Existing sponsor Luminate Capital Partners, StarCompliance’s majority shareholder since 2017, will retain a minority stake following the transaction. Financial terms were not disclosed and closing is subject to regulatory clearances and customary conditions.

iCIMS acquired Altru Labs, a mobile-first employee-generated video storytelling platform. The deal adds interactive video content capabilities to iCIMS’ Talent Cloud to help employers enhance recruitment marketing, candidate engagement, and hiring outcomes.

Sovos, a global tax software provider, has acquired LTtax, a New York-based provider of payroll withholding and unemployment tax software. The deal expands Sovos’ automated tax withholding capabilities by adding LTtax’s wage withholding technology to Sovos’ existing non-wage income withholding and tax information reporting offerings. Financial terms were not disclosed.

MeridianLink signed a definitive agreement to acquire certain assets of TazWorks, a technology platform serving consumer reporting agencies and the background screening industry. The combination is intended to streamline screening and credit reporting workflows and complement MeridianLink’s Mortgage Credit Link business. The transaction is expected to be finalized shortly.

Gimmal LLC acquired Infolinx to expand and enhance its physical records management capabilities within Gimmal’s records management and information governance offerings. The deal adds features such as warehouse/space management, physical-record migrations from legacy systems, asset tracking, and integrations with third-party storage vendors.

Exacom, a provider of multimedia recording solutions for mission-critical communications, has partnered with Seaport Capital to pursue a focused growth strategy across public safety, government, utilities, healthcare and other markets. Backed by a significant investment from Seaport Capital Partners Fund VI, Exacom will be recapitalized after having been 100%-owned by an Employee Stock Ownership Plan (ESOP) since 2014, and will continue to be led by CEO Al Brisard and the existing management team.

Symphony Technology Group (STG) has acquired Warpwire, an educational video management and secure video delivery platform based in Durham, North Carolina. The deal represents STG’s third investment toward building a unified professional education software platform, following earlier acquisitions of CadmiumCD and EthosCE.

TELEO Capital Management, LLC ("TELEO") announced that it has acquired Rand McNally, a transportation technology company. Rand McNally, headquartered in Chicago, Illinois, provides fleet management and route mileage optimization software and a cloud-based telematics platform for carriers, shippers, and third-party logistics providers, alongside related driver technologies and printed atlas/education products.

Applied Business Software, Inc. (ABS) announced the closing of a strategic growth investment from Lometa Capital Partners. The investment, alongside additional capital from existing management and ownership, is intended to accelerate development of ABS’s web-based loan servicing and origination platform and support expansion into adjacent markets.

Anthology announced the acquisition of xRM.com LLC's Foundation and Matching software solutions to expand its advancement and alumni engagement capabilities for higher education institutions and nonprofits. The deal is Anthology’s first acquisition following its strategic combination of Campus Management, Campus Labs, and iModules, and adds Microsoft Dynamics 365–based fundraising and matching-gift functionality to its portfolio.

Hyland has completed its acquisition of Alfresco, bringing the entire Alfresco business, including its technology and products, under Hyland. The deal expands Hyland’s global footprint and augments its content services portfolio, with continued support and future integration of Alfresco solutions across Hyland’s platform offerings.

MRI Software acquired CheckpointID, LLC, an ID verification and fraud prevention technology provider serving the multifamily housing industry. The deal adds real-time government ID validation capabilities to MRI’s MRI Living suite, enhancing leasing, lead management, and resident screening workflows.

Sandata Technologies, LLC announced it has acquired Interactive Financial Solutions, Inc. d/b/a Solana, expanding its presence in the Medicaid home care market and into the Intellectual or Developmental Disabilities (I/DD) segment. Solana, headquartered in Wauseon, Ohio, provides software and business services to I/DD and home care agencies, supporting Sandata’s strategy to build a larger network of payers and providers in home care.

Juniper Networks has entered into a definitive agreement to acquire Netrounds, a programmable software-based active test and service assurance platform for fixed and mobile networks. The acquisition is intended to enhance Juniper’s automated WAN solutions by improving service assurance automation and operational simplicity for service providers, and is expected to close in the fourth quarter subject to customary conditions.

Vector Capital announced an investment in Patron Technology, an event technology platform providing ticketing, mobile, experiential marketing, and cashless solutions for live, virtual, and hybrid events. Patron’s management team, led by CEO Marc Jenkins, will remain in place as Vector partners with the company to support continued growth.

YAPI, a software provider of patient communication and paperless workflow solutions for dental practices, secured a growth investment from Boston-based M33 Growth. The funding will be used to expand YAPI’s account management, customer success, and R&D teams, and to bolster sales and marketing initiatives.

Accel-KKR closed a carve-out acquisition of the Shipper TMS business, part of Wabtec Corporation’s Supply Chain Optimization (SCO) software portfolio. The cloud-based transportation management software (known through brands ShipperConnect and ShipXpress) will support Accel-KKR’s platform investment in PINC by expanding transportation management and supply chain execution capabilities.

Verisk (Nasdaq: VRSK) acquired Franco Signor, a provider of Medicare Secondary Payer (MSP) compliance software and outsourced services, from BV Investment Partners. Franco Signor will be integrated into Verisk's Claims Partners business to expand MSP compliance and related analytics-based claims services.

Spectrio, a portfolio company of Bertram Capital, acquired Senior Living Media, an Osborn Company. The deal expands Spectrio’s senior living engagement offering by adding Senior Living Media’s content creation capabilities and related software tools for calendars, engagement tracking, and newsletters.

Ncontracts, a provider of integrated risk management and compliance software for financial institutions, has acquired Banc Intranets, which offers secure web-based enterprise content management and portal solutions. The acquisition adds BancWorks employee portal and DirectorLink board portal capabilities to Ncontracts’ RegTech suite and expands offerings for banks, credit unions, mortgage lenders, and fintech clients. Gryphon Investors is mentioned as Ncontracts’ financial partner backing its continued acquisition-driven growth.

Aptean, a provider of mission-critical enterprise software solutions, announced the acquisition of Innovative Systems, LLC. Innovative Systems provides ERP software and EDI mapping/transaction support services for the apparel, footwear, and accessories industries, expanding Aptean’s industry-focused ERP and distribution capabilities.

Reveal has acquired NexLP, an artificial intelligence software provider for the legal industry, to strengthen its AI-powered, end-to-end eDiscovery offering. NexLP’s AI capabilities have been integrated into Reveal’s review software, and NexLP’s platform will also remain available as a standalone product for existing clients. Following the deal, NexLP co-founder and CEO Jay Leib joins Reveal’s leadership team as EVP of Innovation & Strategy.

Daybreak Games announced that it has acquired Cold Iron Studios, a San Jose-based game development studio working on a PC and console title set in the Alien universe. Cold Iron Studios will continue to operate independently under new ownership, with co-founder Craig Zinkievich remaining as studio lead and Daybreak providing publishing, marketing, technology, and operational support. Financial terms were not disclosed.

Dynata announced the acquisition of Sharpr, a knowledge management, content syndication, and publishing platform for market and competitive intelligence. Dynata will integrate Sharpr’s AI-powered capabilities into the Dynata Insights Platform to provide a single connected solution for managing and sharing research and insights across the research and marketing continuum.

MRI Software acquired MacMunnis, Inc., a provider of cloud-based lease administration software and managed services for enterprise occupiers. The deal expands MRI’s MRI @Work suite, enhancing its end-to-end offering for corporate occupiers through added lease administration capabilities and related services such as payment processing, audits, and lease abstraction.

Circa announced the acquisition of America's Job Exchange (AJE), a provider of diversity recruitment and OFCCP compliance technology solutions. Following the close of the sale, AJE becomes part of Circa, which is owned by private equity firm Gauge Capital.

Forcura, a healthcare technology company, secured a significant growth investment from technology-focused private equity firm Accel-KKR. The funding will support Forcura’s growth, innovation, and expansion of its software platform that streamlines workflow, referral management, and communication across the post-acute care continuum.

Marlin Equity Partners-backed Bazaarvoice acquired Curalate, a provider of user-generated content, influencer marketing, social commerce, and social media management solutions. Curalate will be merged into Bazaarvoice to expand Bazaarvoice’s e-commerce-focused UGC and product reviews platform and strengthen its market position.

FlashParking completed the acquisition of the Parking Division of Control Systems Incorporated (CSI), a Connecticut-based provider of parking management services and technology. The deal expands FlashParking’s customer base in the U.S. Northeast and brings most of the CSI team under FlashParking, while CSI retains its maintenance business supporting legacy equipment. Financial terms were not disclosed.

The Carlyle Group acquired a majority stake in Memsource, a Czech Republic-headquartered provider of language translation and localisation software. Memsource’s management team, including founder and CEO David Čaněk, will remain shareholders, and the transaction financial terms were not disclosed.

Affiliates of Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners, made a significant growth investment in Next Glass, a software provider to the beverage alcohol industry. The funding will support product innovation and go-to-market acceleration across Next Glass’s platforms (including Untappd and BeerAdvocate) and help finance potential future add-on acquisitions; transaction terms were not disclosed.

StoneCalibre completed the sale of its portfolio company XMedius Solutions to Canada-based OpenText. XMedius provides secure enterprise communications solutions, including on-premise and cloud communications offerings for regulated and sensitive data exchange.

Banyan Software, Inc. announced the acquisition of School Pathways LLC, a provider of a web-based student information system for Independent Study and online schools. School Pathways will continue operating with its full team remaining onboard, including executives Amy Gruber (COO) and Ben Fojas (CTO). The deal adds an education-focused, cloud-based student information and compliance platform to Banyan’s enterprise software portfolio.

Gryphon Investors made a majority investment in PestRoutes, a provider of business management software for pest control and other field service companies. Existing sponsor Mainsail Partners and PestRoutes co-founder Jared Green will retain minority stakes, and the current management team led by CEO Patrick McKittrick will continue to run the company.

Mainsail Partners announced the sale of Ncontracts, a provider of integrated risk management software for financial institutions, to Gryphon Investors. Mainsail originally invested in Ncontracts in 2015 and supported the company’s growth prior to the exit transaction.

GPS Insight, a fleet software provider, announced it has acquired Chicago-based ServiceBridge, a field service management software company serving small businesses and franchise networks. The deal expands GPS Insight’s software portfolio to better connect organizations’ vehicles and mobile workforces with integrated tools for dispatch, workflow management, and operations analytics.

International Market Centers (IMC), a portfolio company of The Blackstone Group, announced the concurrent acquisitions of Pharos (formerly a division of Whereoware) and RepZio. The deals will form the foundation of IMC_di, a new standalone B2B e-commerce division intended to extend IMC’s physical markets with an integrated digital platform for the gift, home furnishings, and apparel industries.

Funds managed by Harvest Partners, LP made a substantial strategic investment in MRI Software, a provider of real estate software solutions headquartered in Solon, Ohio. Existing investors TA Associates and GI Partners remain institutional shareholders, and TA Associates also committed significant new capital. The investment is intended to accelerate MRI’s product innovation and support continued global growth.

Horizon Capital announced an investment in Sapphire Systems Limited, a UK-based provider of enterprise software applications, services, and support focused on ERP and financial management solutions. The investment is intended to accelerate Sapphire’s growth, including organic expansion and complementary acquisitions.