Software Acquisitions in Massachusetts

The Players Impact (TPI), a Boston-based venture platform for professional athletes and entrepreneurs, has acquired Ledgex, a financial technology firm that provides multi-asset portfolio management and data aggregation tools. Ledgex's platform will be integrated into TPI's TPI Pulse Pro product to expand TPI's wealth-technology capabilities and offer advanced portfolio management to its community of athletes, families, and advisors.

UK-based Polaris Software, backed by private equity firm August Equity, has acquired Massachusetts-based Sitestream, a provider of automated traffic enforcement and municipal compliance software. The deal is an add-on to Polaris’ growing portfolio and is intended to accelerate the company’s expansion into the U.S. public sector market and broaden its municipal compliance and road-safety offerings.

BID Equity, a European private equity firm, has acquired Cuseum, a Boston-based provider of visitor and member engagement software for museums, cultural institutions, and universities. Under BID Equity's ownership, Cuseum will accelerate product innovation, expand globally, and continue serving mission-driven organizations with its mobile-first engagement platform.

Banyan Software has acquired Point and Click Inc., a provider of Electronic Health Records and practice management software for college and university health and counseling services. The acquisition brings Point and Click’s niche higher-education EHR capabilities into Banyan’s portfolio to support growth and continuity for hundreds of campus health customers.

Aprio announced a five-year, $300 million investment in AI and automation and has acquired TimeCredit, an AI-enabled automation platform from the 2024 AICPA/CPA.com startup accelerator. Three key TimeCredit team members, including CEO and co-founder Ndonga Sagnia, joined Aprio (Sagnia as Senior Director of AI Transformation) as Aprio integrates TimeCredit's platform to expand its capabilities across audit, tax, reporting, and advisory services.

Siemens AG has completed the acquisition of Dotmatics, a Boston-based life sciences R&D software provider and portfolio company of Insight Partners, for an enterprise value of $5.1 billion. Dotmatics will join Siemens' Digital Industries Software business to expand the Siemens Xcelerator portfolio into Life Sciences, adding over $300 million in revenue and enabling AI-powered end-to-end scientific R&D workflows.

Monetate, a Centre Lane Partners portfolio company, has acquired SiteSpect to combine client-side personalization with server-side, zero-flicker experimentation and create a scaled, enterprise-grade optimization platform. The deal is supported by a $75 million unitranche facility (including a $30 million last-out loan) and an equity co-investment led by o15 Capital Partners to refinance Monetate’s debt and fund the integration.

DataCore Software has acquired StarWind Software to expand its hyperconverged infrastructure (HCI) and edge/ROBO capabilities, bringing StarWind’s virtual SAN and HCI solutions into DataCore’s software-defined storage portfolio. The deal broadens DataCore.NEXT’s reach across core, edge, and cloud environments, enabling improved support for distributed operations and small-to-midmarket customers.

Siemens Digital Industries Software (Siemens EDA) has completed the acquisition of DownStream Technologies, a Marlborough, Massachusetts-based provider of PCB manufacturing data preparation and documentation tools, including the CAM350 and BluePrint‑PCB suites. The deal (closed April 7, 2025) strengthens Siemens' PCB design-to-manufacturing workflow and expands its footprint in the electronics SMB market; terms were not disclosed.

Banyan Software, a permanent-capital acquirer of enterprise software businesses, has acquired Hancock Software Inc., a provider of energy program management software used by utilities, state governments, and community action agencies. The acquisition will support Hancock's product innovation and scaling efforts for Hancock Cloud and Hancock MINT to better serve energy-efficiency programs and government customers.

nCino, a publicly traded provider of cloud banking software, has acquired Sandbox Banking, an iPaaS specialist for banks and credit unions, for $52.5 million in cash plus up to $10 million in earn-outs. The deal adds integration and data-connectivity capabilities (Glyue / nCino Integration Gateway) to nCino's platform to accelerate deployments, reduce integration friction and improve system interoperability for financial institutions.

Boston-based SciShield and Groningen-based eLabNext have merged to form SciSure, a Scientific Management Platform that combines eLabNext's ELN and LIMS with SciShield's EHS capabilities. The combined company is backed by private equity firm Strattam Capital; eLabNext was previously owned by Eppendorf.

Advisor360° acquired Parrot AI, a Boston-based generative AI company that builds meeting recording, transcription, and summarization software. The deal brings Parrot AI's IP and a 12-person team (including CEO and co-founder Paul Morville) into Advisor360° to expand its AI capabilities and offer Parrot's software both embedded in Advisor360°'s platform and as a stand-alone product for advisors.

Verint completed the acquisition of Cogito in October 2024, adding Cogito’s real-time agent coaching and conversation AI capabilities to its CX Automation portfolio. Verint has already integrated Cogito technology to launch the Verint CX/EX Scoring Bot, leveraging Cogito’s ability to analyze 200+ acoustic and lexical signals to score live customer-agent interactions and improve contact center performance.

Hg has made a significant growth investment in Empyrean Solutions, a Woburn, Massachusetts-based provider of risk and performance management SaaS for banks and credit unions. Existing investor Spectrum Equity is participating alongside Hg and current shareholders including TechVenture Investors and management will remain invested; terms were not disclosed.

Bureau Veritas has acquired Aligned Incentives, a Middleton, Massachusetts–based provider of GenAI-powered enterprise sustainability planning and Life Cycle Assessment (LCA) software. The deal strengthens Bureau Veritas' Scope 3 emissions analytics and sustainability transition services by integrating Aligned Incentives' AITrack platform and expertise into its global offering.

Bullhorn has acquired KonaSearch, a Massachusetts-based provider of advanced search and match technology for the Salesforce platform, to strengthen sourcing for executive search and staffing firms. The deal brings KonaSearch’s cross-entity search and matching capabilities into Bullhorn’s product suite to accelerate its Sourcing AI strategy and improve executive and permanent placement workflows on Bullhorn for Salesforce.

Pittsburgh-based eProductivity Software (ePS) has acquired U.S.-based Enterprise Print Management Solutions (EPMS), a management information system (MIS) software provider founded in 1989 that serves over 200 customers in North America. The deal expands ePS’s product portfolio and strengthens its leadership in the SMB print and packaging MIS market by integrating EPMS’s customer base and technology into ePS’s global offerings.

Owensboro, Kentucky-based Cabinotch Innovative Solutions has acquired KCD Software, a provider of CNC manufacturing/design software for cabinetmakers and woodworkers. Terms were not disclosed; Cabinotch said it will retain the full KCD team and expand KCD's product offerings to better serve woodworkers and cabinet shops.

Galanthus Partners, the parent of BPD Zenith and Projetech Inc., has acquired InterPro Solutions, an IBM Business Partner known for the EZMax Suite of mobile applications for IBM Maximo. The deal adds InterPro's mobile EAM capabilities to Galanthus's asset management technology portfolio to strengthen its product offering and client value proposition.

Epicor has acquired Smart Software, a cloud-based, AI-driven provider of inventory planning and optimization (IP&O) applications, to integrate Smart Software’s Smart IP&O platform into Epicor’s ERP offerings. Financial terms were not disclosed; the deal is intended to accelerate Epicor’s delivery of AI-powered forecasting and inventory optimization capabilities for manufacturing, distribution, and retail customers.

An affiliate of Enghouse Systems Limited has agreed to acquire substantially all of SeaChange International's product and services assets for $39 million (less SeaChange cash on closing). The asset sale, approved by SeaChange's board and supported by a large shareholder voting agreement, is expected to close in early May 2024 and will result in SeaChange retaining cash, cash equivalents and tax NOLs.

Thoma Bravo, a leading software-focused private equity firm, completed the acquisition of Everbridge, Inc., a global critical event management and public warning software provider, in an all-cash transaction valuing the company at approximately $1.8 billion ($35.00 per share). Everbridge will become privately held and its common stock has been delisted from Nasdaq; Thoma Bravo said it plans to invest in product innovation and accelerate Everbridge's growth.

Concord Technologies has acquired Biscom, Inc., combining Concord's cloud fax, document automation and AI capabilities with Biscom's on-premises enterprise fax and secure file transfer solutions to create a market-leading provider of secure document exchange and workflow automation. The combined business will focus on healthcare and other highly regulated industries, together serving over 4,500 customers and processing over 4 billion pages of protected information annually.

An affiliate of Vista Equity Partners completed a take-private acquisition of EngageSmart for $23.00 per share in cash, valuing the company at about $4.0 billion. EngageSmart's common stock ceased trading after stockholders approved the transaction; sellers included existing investors such as General Atlantic and Summit Partners.

An affiliate of Symphony Technology Group (STG) completed an all-cash acquisition of Avid Technology for approximately $1.4 billion, taking the media and entertainment software company private. Avid stockholders received $27.05 per share; Avid will remain headquartered in Burlington, Massachusetts, and STG said it will support accelerated innovation and growth.

Salary.com has acquired HCR Software, maker of the CompXL enterprise incentive compensation planning application, and integrated it into its CompAnalyst Total Compensation Management (TCM) platform. The deal expands Salary.com's enterprise compensation planning capabilities—adding spreadsheet-like flexibility, incentive plan support (merit, bonus, commissions, LTI, equity) and broader cloud-based automation and HR system integrations.

Main Capital Partners has made a majority investment in Lux Scientiae, Incorporated (LuxSci), a U.S.-based provider of HIPAA-compliant secure communications and hosting solutions for healthcare and other regulated industries. The partnership will provide LuxSci with resources to accelerate product development, pursue strategic acquisitions, and expand internationally while Main leverages its healthcare and security software experience to support growth.

LGI Healthcare Solutions Inc., a Canada-based healthcare IT solutions provider, has completed the acquisition of Boston Software Systems, a U.S.-based provider of robotic process automation (RPA) solutions for healthcare. The deal expands LGI's automation capabilities and market coverage, combining LGI's integration experience with BSS's healthcare-focused RPA platform to drive workflow efficiency and improved clinical outcomes.

Canto, an Atlanta-based digital asset management (DAM) provider, has acquired MerlinOne, a Quincy, Massachusetts-based DAM company known for AI-centric visual search capabilities. The deal brings MerlinOne's AI technology and team into Canto to accelerate AI strategy, expand product capabilities, and strengthen Canto's position in the DAM market.

WIN-911, a Capstreet-backed provider of industrial monitoring and notification software, has acquired SyTech, the developer of XLReporter reporting software. The combined company will operate under the new brand SmartSights to expand operational intelligence, reporting and analytics capabilities for industrial customers.

Bruker Corporation has closed the acquisition of ZONTAL Inc., a provider of a GxP-compliant life-sciences data platform, to strengthen Bruker BioSpin's Integrated Data Solutions (IDS) software portfolio. The deal (terms not disclosed) will integrate ZONTAL's vendor-agnostic laboratory and process data management capabilities with Bruker's Mestrelab, Arxspan and Optimal offerings to accelerate digital laboratory transformation for biopharma and life-science customers; ZONTAL expected 2023 revenues of greater than $5 million.

Strattam Capital has made an equity investment in SciShield to accelerate product innovation and expand the company’s product, engineering, and customer success teams. SciShield, a Boston-based provider of environmental, health & safety (EHS) and chemical-inventory software for scientific laboratories, will use the capital to scale its platform and support growing customer demand across biotech, academic research institutions, and large pharmaceutical customers.

Boston-based private equity firm Ethos Capital has acquired Newforma, a Boston-headquartered provider of project information management (PIM) and BIM collaboration software for the architecture, engineering and construction (AECO) industry. The deal, in which Battery Ventures sold its stake, will support Newforma’s cloud migration and accelerated product development as the company expands its cloud-based collaboration platform.

PDI Technologies has acquired Blue Cow Software, a Massachusetts-based provider of fuel oil and propane management software, from Repay Holdings Corporation. The acquisition expands PDI's home heat offerings and enables PDI to offer Blue Cow's route optimization, analytics and CRM capabilities to its existing and future customers in the heating oil and propane vertical.

Urbint acquired iRestore, a no-code mobile workforce management platform for energy utilities, to integrate field mobile applications with its AI-driven incident prevention platform. The acquisition aims to improve adoption of Urbint's predictive insights in the field and scale end-to-end risk reduction for critical infrastructure operators.

AcheronTrading has acquired HedgeTech LLC, a Boston-based algorithmic market-making technology platform founded in 2018. The deal adds HedgeTech’s exchange integrations, low-latency infrastructure, and trading algorithms to AcheronTrading’s digital-asset market-making operations; financial terms were not disclosed.

Siemens Digital Industries Software has signed an agreement to acquire Avery Design Systems, a simulation-independent verification IP supplier headquartered in Tewksbury, Massachusetts. The acquisition will add Avery's verification IP and compliance test-suite technology to Siemens' Xcelerator portfolio to strengthen Siemens' integrated circuit verification offerings.

Prometheus Group, a Raleigh-based provider of asset management and optimization software, has acquired WorkTech, a Cambridge, Massachusetts provider of contractor management and workforce productivity software. The acquisition will integrate WorkTech's contractor tracking, approvals and payment capabilities into Prometheus's STO and EAM platform to improve shutdown/turnaround planning and contractor cost visibility.

airSlate has acquired DocHub, an online PDF editor and eSignature platform, to expand its document workflow and automation offerings and deepen integrations in the Google Workspace Marketplace. The acquisition will accelerate DocHub's product development and integrate its PDF and eSignature capabilities into airSlate's portfolio alongside pdfFiller and signNow.

Dynamo Software has acquired Smonik Systems, a provider of data management and reconciliation software, to enhance Dynamo’s data automation capabilities for the alternative investment industry. The acquisition integrates Smonik’s automated data collection, extraction, validation, and reconciliation tools into Dynamo’s cloud platform; Dynamo is backed by Blackstone and Francisco Partners.

Boston-based private equity firm Clearhaven Partners has acquired Zixi, a provider of a Software-Defined Video Platform (SDVP) that enables reliable live video transport over IP networks. Zixi's executive management invested alongside Clearhaven; the deal will support product innovation and scaling to capture accelerated growth in IP-based live video markets.

Bain Capital Private Equity has made a majority growth investment in EnterpriseDB (EDB), a leading provider of enterprise-class software and services for Postgres. Great Hill Partners, which acquired EDB in 2019, will remain a significant shareholder; the investment is intended to accelerate EDB's growth and cloud offerings including the BigAnimal DBaaS.

Emerson and AspenTech closed a transaction combining Emerson’s industrial software businesses — OSI Inc. and its Geological Simulation Software business — with AspenTech to create a new AspenTech. Emerson owns 55% of the combined company on a fully diluted basis and AspenTech shareholders own the remaining 45%, with shares trading on NASDAQ under the ticker AZPN.

Chaos, which recently merged with Enscape, has acquired Cylindo, a Boston-based 3D product visualization platform. The deal brings Cylindo's SaaS product-visualization technology and ~164 employees into Chaos to expand its capabilities across 3D, AR and VR and create a combined end-to-end visualization ecosystem for brands and retailers.

Bentley Systems has acquired Watertown, Massachusetts-based ADINA R & D Inc., a developer of finite element analysis and nonlinear simulation software. The purchase integrates ADINA's authoritative nonlinear and multiphysics simulation capabilities into Bentley's infrastructure digital twin and engineering simulation portfolio to extend simulation realism and resilience across Bentley's products.

BlueCrest has acquired Window Book, Inc., folding the mailing and presort software provider into its BCC Software business as a stand‑alone division. The add-on expands BlueCrest/BCC Software's suite of automated mailing, address quality and mail preparation solutions to strengthen workflow automation and USPS interoperability.

Park Place Technologies has purchased the Storfirst file-system/data migration software platform from Congruity360 to expand its data migration and information management capabilities. The acquisition adds an OEM- and platform-agnostic migration tool to Park Place's portfolio, enabling enhanced migration, analytics and risk management for customers across on‑prem, hybrid and cloud environments.

Tempo Software, a PE-backed provider of time, resource and portfolio management solutions, has acquired ALM Works, the developer of the Structure for Jira project and portfolio management suite. The deal expands Tempo's strategic portfolio management capabilities by combining ALM Works' project-structuring tools with Tempo's time and capacity management products as an add-on to its platform.

FactSet acquired Cobalt Software, a portfolio monitoring platform for the private capital industry, to expand its private markets offering and enhance PE/VC workflow solutions. The acquisition closed on October 12, 2021 and integrates Cobalt's portfolio monitoring, cash flow analytics, and benchmarking capabilities into FactSet's data and analytics ecosystem.