Software Acquisitions in Maryland

Sheridan Capital Partners completed an investment in ICANotes, a purpose-built electronic health record (EHR) and practice management platform serving behavioral health providers. Financial terms were not disclosed; Sheridan said it will support ICANotes' product development and nationwide expansion to scale the company's behavioral-health-focused EHR and practice management capabilities.

JDM Technology Group has acquired Successware, a cloud-based field service management software provider, from Authority Brands; the transaction closed on March 21 and terms were not disclosed. The deal expands JDM's B2B software portfolio and strengthens its presence in the North American market; Successware will continue to operate under its own brand.

Epicor has acquired Acadia Software, a provider of Connected Worker solutions that delivers real-time insights and digital work instructions for frontline workers in manufacturing and supply chain industries. The acquisition (terms not disclosed) expands Epicor’s industry-specific software capabilities to help customers digitize frontline workflows, improve productivity, and drive continuous improvement.

Descartes Systems Group has acquired Rockville, Maryland–based OCR Services, a provider of global trade compliance solutions and content, for approximately $90 million in cash. The acquisition adds OCR’s GlobalEASE platform and controlled export data to Descartes’ Global Trade Intelligence offerings, expanding content and capability to better serve multinational customers and partners.

Synergy ECP, a Columbia, Maryland-based provider of software engineering, cybersecurity and systems engineering services, has acquired SoftTech Solutions, a custom software development firm serving the U.S. Intelligence Community. The transaction was funded/facilitated by Charlotte-based private equity firm Falfurrias Capital Partners and positions Synergy ECP to expand its capabilities into mission-focused cloud engineering, data analytics and SIGINT-related software.

Document Mountain (Cornerstone Consortium, LLC) has acquired MEDI (Medimicro Inc.), a Millersville, Maryland-based document management software and services provider, following an introduction facilitated by Rejigg. The founders of MEDI will remain involved in an advisory capacity; the deal closed on March 8, 2024 and aims to expand capabilities and geographic reach for the combined company.

Dotmatics has acquired M-Star, a GPU-accelerated computational fluid dynamics (CFD) software company headquartered near Baltimore, Maryland, to extend its R&D scientific software platform into bioprocessing and chemicals & materials markets. The deal — the 13th acquisition for Dotmatics — will keep M-Star as a standalone business within Dotmatics and aims to accelerate product capabilities and market reach for modeling fluid dynamics in life sciences and industrial applications.

Perficient, a global digital consultancy, has acquired Inflection Point Systems, a Columbia, Maryland–based software consulting and product development firm with nearshore operations in Monterrey, Mexico. The approximately $15 million-revenue company brings more than 200 professionals and strategic client relationships, strengthening Perficient's nearshore delivery capacity and agile software development capabilities across Latin America.

Convenient Brands, a Draper, Utah-based platform and portfolio company of private investment firm The Beekman Group, has acquired ROME Technologies of Pasadena, Maryland. The deal brings ROME's collision-center management software, consulting and payments integration (ROMEPay) into Convenient Brands' automotive repair technology platform; founder Scott Rome retired and James Rome was promoted to president. Convenient Brands said it will support ROME with additional sales, marketing and product development resources.

An affiliate of Gemspring Capital has acquired a majority interest in AINS Inc., a Gaithersburg, Maryland-based provider of case management software and IT services for government customers. Gemspring plans to partner with AINS's management to expand the company's product portfolio, go-to-market capabilities, implementation, and support organizations to accelerate growth.

Togetherwork, a portfolio company of GI Partners, has acquired Protech Associates, a Maryland-based provider of association management software built on Microsoft Dynamics 365. The acquisition adds Protech to Togetherwork’s Association Solutions business unit to expand its platform-based offerings and deepen its presence in the association market.

Paradox, the conversational recruiting software company, has acquired Traitify, a mobile-first visual assessment platform, to integrate fast personality and fit assessments into Paradox's hiring workflow. Terms were not disclosed; the deal is intended to improve hourly and high-volume hiring by increasing assessment completion rates and enabling better candidate-to-role prediction.

Cadmium has acquired EventRebels, a Baltimore-based events and registration software provider, to expand its all-in-one Events & Learning platform. The acquisition adds configurable registration, membership authorization, and lead retrieval capabilities to Cadmium’s suite, strengthening its offering for associations, nonprofits, healthcare and conference organizers.

Sunstone Partners, a growth-oriented private equity firm, made a $75 million growth equity investment in MeetingPlay to fund product development, expand delivery capabilities and enhance go-to-market efforts. MeetingPlay, an event technology software company based in Frederick, Maryland, provides virtual, hybrid and in-person event platforms used by large enterprises and hospitality customers.

Versaterm Public Safety acquired Adashi Systems LLC to integrate Adashi’s Critical Incident & Command (C&C), Alert and RollCall solutions into Versaterm’s CAD platform, enhancing capabilities for police, fire and EMS customers. The deal, announced June 14, 2021, is the first in a planned slate of strategic acquisitions to expand Versaterm’s public safety suite; financial terms were not disclosed.

Marlin Equity Partners has made a majority-control growth investment in StarCompliance, a Rockville, Maryland–based provider of employee compliance and regulatory technology, with existing investor Luminate Capital Partners retaining a minority stake. The capital will be used to accelerate product innovation and support StarCompliance's international expansion.

Gimmal LLC has acquired Infolinx, a Maryland-based provider of physical records management software, to expand Gimmal's physical records management capabilities within its Gimmal Records Management platform. The deal adds warehouse and space management, legacy physical-records migrations, asset tracking and third-party storage integrations to Gimmal's offering; Madison Park Group advised Gimmal and DecisionPoint advised Infolinx.

MHC Software has acquired Ecrion Software, a Rockville-based provider of customer communication management (CCM) and customer experience automation (CXA) software and services. The deal adds omnichannel communication, dynamic documents, and customer journey automation capabilities to MHC's enterprise automation platform and follows a prior majority investment in MHC by Strattam Capital.

Palo Alto-based private equity firm Symphony Technology Group (STG) has made a majority investment in CadmiumCD, an event management software company headquartered in Forest Hill, Maryland. The investment will support CadmiumCD's product development and expansion into association and corporate event markets while founders Michelle and Peter Wyatt remain in executive roles.

Accel-KKR, a technology-focused private equity firm, has acquired InSight Mobile Data, Inc. (IMD), the developer of the StreetEagle fleet and mobile worker management platform. The acquisition is intended to accelerate product development and growth of StreetEagle, with IMD founder John Eller moving to an advisory board role and COO Doug Hawley becoming CEO.

Swiftcurrent Holdings, an affiliate of ESW Capital, acquired NetPlus Group, a Rockville, Maryland-based provider of telecommunications and mobile expense management software and services. The acquisition (terms not disclosed) will support NetPlus’s continued expansion into government and commercial end markets under ESW’s software-focused operating platform.

ANSYS acquired substantially all assets of DfR Solutions, the developer of Sherlock automated electronics reliability analysis software, to integrate electronics reliability capabilities into its multiphysics simulation portfolio. The deal is intended to enable designers to analyze electronics failure earlier in the design cycle and extend ANSYS’ electronic simulation offerings to include reliability and durability analyses for industries such as automotive, aerospace and medical devices.

Community Brands, a provider of cloud-based software and payment solutions for associations and nonprofits, has acquired Attendee Interactive, a Maryland-based conference planning and event management software company. The acquisition adds speaker/abstract management, continuing education accreditation, and event logistics capabilities to Community Brands' event technology portfolio.

Fullsteam, a holding company backed by Aquiline Capital Partners, has acquired Euclid Technology, a Bethesda, Maryland-based provider of Association Management Software (AMS). Euclid’s founder Charlie Vinal will remain with the business as Fullsteam looks to expand its software and payments capabilities within the association management vertical.

Clubessential acquired PrestoSports Inc., a provider of SaaS athletic content and event management software, expanding Clubessential's customer base by ~65% and launching a new Sports Division. The deal is an add-on to Clubessential (backed by Battery Ventures) that broadens its membership and club management offering with collegiate athletics website, stats, camp management and live event broadcasting capabilities.