Software Acquisitions in Connecticut

BlueMatrix has acquired the RMS Partners business ("RMS"), a global investment research software platform, from FactSet. The deal expands BlueMatrix's international footprint across EMEA and APAC, deepens its investment research product offering, and establishes an enhanced commercial agreement with FactSet making FactSet a preferred data provider.

Quality Standard, a permanent-capital investor, has made a strategic investment in Flexi Software, an enterprise accounting software provider. The transaction enables Flexi to accelerate product innovation and customer service while co-founder Stefan R. Bothe retired and Quality Standard co-founder Jason Gilliland joined Flexi as CEO.

Portside, a cloud-based aviation software provider backed by Vista Equity and Insight Venture Partners, has acquired LeaseWorks, a provider of cloud-based lease and asset management software (Aeris suite) for aircraft lessors and airlines. The deal erweitert Portside's product suite into aircraft leasing, enabling expanded lifecycle management capabilities and scale for both organic and inorganic growth.

XDimensional Technologies (XDTI), a Serent Capital–backed insurance software provider, has acquired Shelton, Connecticut–based I-Engineering. The acquisition brings I-Engineering’s product suite and team into XDTI to strengthen implementation, support, product and technology capabilities and expand coverage of MGAs, wholesalers, program administrators and carriers.

Veson Nautical, a maritime freight management software provider, has acquired Q88, a vessel and voyage information management and software platform for the maritime transportation industry. The deal brings Q88’s vessel-specification, document and data products into Veson’s platform to expand capabilities and accelerate product integration for customers across tanker, dry-bulk and broader shipping markets.

Cordance, a Raleigh-based operator of vertically-focused B2B software businesses, has acquired DocXellent, a Norwich, Connecticut provider of the ENSUR document management and quality-control software. Cordance said the acquisition will provide DocXellent with additional financial resources and operational expertise to scale the product and better serve its customers.

BlackLine, Inc. completed the acquisition of FourQ Systems, Inc. to integrate FourQ's intercompany financial management and tax/transfer-pricing capabilities into BlackLine's cloud financial operations platform. The deal closed Jan. 26, 2022 for $165 million in cash at close plus up to $75 million in earnouts, enhancing BlackLine's intercompany automation and compliance offerings for multinational finance teams.

insightsoftware has acquired Exago, an embedded business intelligence (BI) provider, to strengthen its embedded analytics capabilities and complement the Logi Analytics division. The acquisition brings Exago’s embedded BI platform and customer base into insightsoftware’s portfolio to expand product functionality and accelerate adoption of analytics within customer-facing applications.

Aptean, a global provider of industry-specific enterprise software, has acquired V-Technologies, LLC, a Connecticut-based provider of integrated shipping software (StarShip and ShipGear). The acquisition expands Aptean's logistics and fulfillment capabilities by integrating V-Technologies' shipping and ERP connectivity solutions into Aptean's product portfolio.

Xerox Holdings Corporation has acquired CareAR, an augmented reality (AR) support platform that enables remote experts to visually guide field workers via desktop, mobile and smart glasses. The acquisition expands Xerox’s software portfolio and integrates CareAR capabilities (including ServiceNow certification) into Xerox’s digital services lineup to enhance field service, customer support and IT workflows.

ECI Software Solutions signed a definitive agreement to acquire Glastonbury, Connecticut–based Shoptech Industrial Software Corp., a provider of ERP software for job shops and made-to-order manufacturers. Upon closing (expected in Q4 2020), Shoptech will join ECI's Manufacturing division; terms were not disclosed.

TZP Group, a New York-based private equity firm, has acquired Awareness Technologies, Inc., a Westport, Connecticut provider of endpoint monitoring, productivity, parental-control and analytics software. Financial terms were not disclosed; TZP named Elizabeth Harz as Awareness Technologies' CEO and said the investment is the first for its TZP Small Cap Partners II fund to capitalize on increased remote work and growing demand for device monitoring solutions.

MRI Software acquired ProLease, a Stamford-based provider of lease administration, lease accounting and workplace management software, expanding MRI's occupier solutions and lease accounting capabilities. The acquisition adds ProLease's installed base of more than 700 clients and several integrated modules—real estate, equipment, lease accounting, workplace, maintenance and project—supporting MRI's growth across geographic markets and compliance with new global lease accounting standards.

Investment funds managed by Morgan Stanley Capital Partners completed an investment in Clarity Software Solutions, a Madison, Connecticut-based provider of data-driven member communication software for health payors, TPAs and dental insurers. Founder Sean Rotermund will remain CEO as MSCP partners with management to drive organic growth, product development and broaden market presence.

Sunshine Acquisition Corporation, an acquisition vehicle affiliated with The Carlyle Group, completed the cash acquisition of SS&C Technologies, Inc., taking the company private for approximately $942 million ($37.25 per share). The deal transfers SS&C from a NASDAQ-listed company to private ownership under Carlyle, intended to support SS&C’s continued growth of its financial technology software and services.