Tracked deals
33
33 tracked deals across 2013-2026.
Software Buyers & Acquisitions in Minnesota
Buyer mix
Mixed buyer set
22 strategic · 17 pe
Top trend
Volume peaked in 2020
6 tracked deals announced in 2020.
Primary Insight
What Stands Out
- Francisco Partners appears in a major take-private transaction involving Jamf (all-cash, NASDAQ delisting upon close).
- Multiple deals focus on vertical workflow expansion (homecare/EVV and billing with Cashé Software; inventory/warehouse management via WithoutWire Inventory Sciences).
- Recurring buyer types include private equity and software-focused platforms such as HHAeXchange, onX, and Bigtincan.
- Several Minnesota-target deals emphasize integration into broader platform offerings (e.g., sales workflow + e-commerce experience with Roofle).
- Investment and leadership changes also show up as deal components, such as CEO appointments and business-unit leadership roles for acquired teams (e.g., Cashé Software leadership within HHAeXchange).
Build a buyer list for your Software deal
Find buyers actively acquiring software companies.
Find buyers like these for your dealBuyer Snapshot
Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Francisco Partners | 2 | Technology-focused private equity firm investing in techn... | PE |
| Thoma Bravo | 2 | Software-focused private equity investment firm that acqu... | PE |
| Aldine Capital Partners | 1 | Private investment firm providing subordinated debt and e... | Investor |
| Apiphani | 1 | AI-native technology services and automation company deli... | Strategic |
| Aptean | 1 | Global provider of industry-specific enterprise software ... | Strategic |
| Banyan Software, Inc. | 1 | Acquires, builds and grows niche enterprise software busi... | PE |
| Battery Ventures | 1 | Global, technology-focused investment firm that invests a... | PE |
| Bentley Systems, Incorporated | 1 | Global provider of software solutions for the design, con... | Strategic |
| Bigtincan Holdings Limited | 1 | Global software company providing an AI-powered sales ena... | Strategic |
| Clearlake Capital Group | 1 | Sector-focused private investment firm that targets softw... | PE |
Acquisition Volume in Software in Minnesota by Year
Last 10 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
January 30, 2026
- Buyer
- Francisco Partners
- Target
- Jamf
- Seller
- Jamf stockholders (voted to approve the transaction), Vista Equity Partners
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
Francisco Partners (FP) completed the take-private acquisition of Jamf in an all-cash deal valued at approximately $2.2 billion, paying $13.05 per share. Jamf shareholders approved the transaction on January 8, 2026, and Jamf’s shares were delisted from NASDAQ upon close so the company can operate as a privately held business.
-
January 12, 2026
- Buyer
- SalesRabbit
- Target
- Roofle
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
SalesRabbit has acquired Roofle to integrate online buying and e-commerce capabilities with its field sales and production workflow tools for roofing and home-improvement contractors. The move combines Roofle's instant pricing, digital proposals, and checkout experience with SalesRabbit's territory management, lead tracking, and production handoff tools to support the full contractor customer journey; financial terms were not disclosed.
-
October 30, 2025
- Buyer
- Apiphani
- Target
- Tradeoff Software
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
Apiphani, an AI-native technology services and automation company, has acquired Tradeoff Software, an AI-focused product development firm founded by Braden Ericson. Ericson and key members of his team will join Apiphani — Ericson as Vice President, Product & Engineering — to strengthen Apiphani's product and engineering capabilities for its luumen automation and observability platform.
-
June 18, 2024
- Buyer
- HHAeXchange
- Target
- Cashé Software
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
HHAeXchange has acquired Minnesota-based Cashé Software, combining two homecare-focused software platforms to expand capabilities in billing, compliance, EVV, and workforce management for Medicaid home and community-based services (HCBS). The deal brings Cashé's customer base (400+ agencies) and its Pavillio platform into HHAeXchange; former Cashé president Praba Manivasager will lead the Cashé business unit within HHAeXchange.
-
- Buyer
- Scanco Software, LLC, Firmament
- Target
- Appolis, LLC (d.b.a. WithoutWire Inventory Sciences)
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Addon
Scanco Software, a Firmament-backed provider of warehouse and manufacturing automation software, has acquired Appolis, LLC (d.b.a. WithoutWire Inventory Sciences), a specialist in complex inventory and warehouse management systems. The acquisition expands Scanco's product suite to serve Microsoft Dynamics and NetSuite customers and strengthens its end-to-end offerings for SMB distribution and manufacturing customers.
-
- Buyer
- H.I.G. WhiteHorse, Monroe Capital
- Target
- Arcserve
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Growth capital
Arcserve announced a significant investment from H.I.G. WhiteHorse and Monroe Capital and the appointment of Chris Babel as CEO. The capital will be used to accelerate development and global delivery of Arcserve’s unified data protection and recovery solutions to support customers facing evolving cyber threats and AI-driven opportunities.
-
March 20, 2024
- Buyer
- onX
- Target
- TroutRoutes
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
Outdoor navigation company onX has acquired TroutRoutes, a Minneapolis-based mapping app for fly-fishing enthusiasts. The deal brings TroutRoutes’ river-and-stream mapping capabilities into onX’s product portfolio ahead of the spring launch of onX Fish, enabling onX to expand into the freshwater angler market and accelerate product development.
-
February 20, 2024
- Buyer
- Wellspring, Resurgens Technology Partners
- Target
- Sopheon
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Addon
Wellspring, a portfolio company of Resurgens Technology Partners, has acquired Sopheon to combine their InnovationOps, tech transfer, IP management, and innovation management software and services into a single global offering. The combined company—led by CEO Sean Downs—will expand Wellspring's product and service capabilities across corporate, academic and government R&D ecosystems; Raymond James served as financial advisor to Wellspring and Resurgens.
-
July 21, 2023
- Buyer
- Bigtincan Holdings Limited
- Target
- Modus Engagement, Inc.
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
Bigtincan Holdings Limited (ASX: BTH) acquired Modus Engagement, Inc. for US$9.5 million in a cash consideration structured over 12 months. The acquisition brings Modus’s virtual product tour and lead-capture technology, ~17 employees and ~AU$7.5m ARR into Bigtincan’s sales enablement platform to drive capability expansion, cost synergies and cross-sell opportunities.
-
June 30, 2023
- Buyer
- Vogl Ventures
- Target
- eLogger
- Seller
- BJ Lingren, Other eLogger owners
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
Vogl Ventures has acquired eLogger, a developer of electronic logbook software serving utilities and industrial operators. The transaction, facilitated by Benchmark International, provides an ownership succession path that enables an original owner to transition toward retirement while keeping continuity for employees and clients.
-
- Buyer
- Lead Edge Capital
- Target
- GrowthZone
- Seller
- Greenridge Growth Partners
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
Lead Edge Capital has acquired GrowthZone, a Nisswa, Minnesota–based provider of association membership management software, from Greenridge Growth Partners. The transaction follows Greenridge’s 2019 investment that helped GrowthZone expand its product, add ~40 employees and nearly 1,000 customers; William Blair advised GrowthZone and Raymond James advised Lead Edge on the deal.
-
February 10, 2023
- Buyer
- Welsh, Carson, Anderson & Stowe (WCAS)
- Target
- ImageTrend, Inc.
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Growth capital
Welsh, Carson, Anderson & Stowe (WCAS) made an equity growth investment in ImageTrend, Inc., a market-leading provider of public safety and healthcare software, to accelerate growth and product innovation. WCAS partners with ImageTrend’s management and will add investment team members to the board to support continued expansion of the company’s software, analytics, and services across EMS, hospitals, fire, and public safety end markets.
-
August 9, 2022
- Buyer
- Forsta
- Target
- HelloIgnite
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
Forsta has acquired HelloIgnite, a crowdsourcing and innovation management platform, and will integrate HelloIgnite's idea-generation and crowdsourcing technology into its Human Experience (HX) platform. The deal expands Forsta's CX, EX and market research capabilities by adding employee-driven idea management and collaboration tools for enterprise clients.
-
July 20, 2022
- Buyer
- West Shore Home
- Target
- Design Center, Inc.
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
West Shore Home, a national technology-enabled home remodeling company, has acquired Design Center, Inc., a St. Paul-based software designer specializing in mobile apps, virtual reality and custom software. The acquisition brings 23 employees to West Shore Home and is intended to strengthen the company's technology capabilities and improve the customer experience across its remodeling platform.
-
October 19, 2021
- Buyer
- Fielo
- Target
- Gage Marketing Group
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
Fielo, a Salesforce‑native incentive automation provider, has acquired Gage Marketing Group to broaden its product portfolio beyond Salesforce environments. The acquisition brings Gage's REWARD, EDUCATE, and Gage MARKET distributed marketing capabilities into Fielo's loyalty, enablement, and e-learning offerings, enabling expansion into heterogeneous CRM architectures and new end markets such as franchises and consumer brands.
-
- Buyer
- Volaris Group Inc.
- Target
- Metafile Information Systems
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
Volaris Group Inc. has acquired Metafile Information Systems, the Rochester, Minnesota–based maker of MetaViewer, an accounts payable automation and document management solution for Microsoft Dynamics users. Metafile will continue operating under its brand with CEO Nick Sprau remaining in place; Volaris said the acquisition will expand its footprint in AP automation and provide access to capital, talent and operational expertise.
-
July 14, 2021
- Buyer
- Banyan Software, Inc.
- Target
- Next Chapter Technology
- Seller
- Shareholders of Next Chapter Technology, Vaughn Mulcrone (Founder)
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
Banyan Software acquired Next Chapter Technology, a Minnesota-based provider of CaseWorks electronic document and forms management software for county Health and Human Services departments. Cherry Tree advised the shareholders on the 100% sale; Banyan intends to invest in and grow Next Chapter's product and expand its reach beyond Minnesota.
-
April 19, 2021
- Buyer
- Thoma Bravo
- Target
- Calabrio
- Seller
- KKR
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
Thoma Bravo, a leading private equity firm focused on software, has completed the acquisition of Calabrio, a cloud-first customer experience intelligence and workforce engagement management software company, from KKR. The deal will provide Calabrio with new capital and Thoma Bravo's operational expertise to accelerate the company’s cloud-first growth, organic product investment and targeted inorganic expansion.
-
November 17, 2020
- Buyer
- Aptean
- Target
- Open Systems Adaptable Solutions (OSAS)
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
Aptean has acquired Open Systems Adaptable Solutions (OSAS), a Minnesota-based ERP software provider, to strengthen its process and discrete manufacturing ERP capabilities. OSAS, founded in 1976 and serving nearly 2,500 customers across North America, brings cloud-native ERP solutions that Aptean will integrate to expand its product offerings and accelerate growth.
-
November 10, 2020
- Buyer
- Top Echelon Software
- Target
- CATS Software
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
Top Echelon Software has acquired CATS Software, combining two SaaS applicant-tracking solutions to create a larger mid-market ATS provider. The deal expands Top Echelon's customer and revenue base (together serving 4,000+ customers according to the release), strengthens product capabilities, and offers CATS customers access to the Top Echelon Network.
-
August 27, 2020
- Buyer
- Emerson
- Target
- Open Systems International, Inc. (OSI Inc.)
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
Emerson agreed to acquire Open Systems International, Inc. (OSI Inc.) for $1.6 billion in an all-cash transaction to expand its software capabilities for the power industry. The deal brings OSI’s grid management and operations technology software and associated engineering services into Emerson’s automation and software portfolio to accelerate digitization and renewable integration across utilities.
-
March 9, 2020
- Buyer
- Forecast5 Analytics, Inc., Riverwood Capital
- Target
- GuideK12, LLC
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Addon
Forecast5 Analytics, a Naperville-based provider of decision-support and geovisual analytics for the public sector, has acquired GuideK12, a Minnesota-based geovisual analytics company serving K–12 school districts and municipalities. The acquisition expands Forecast5's mapping and geovisual capabilities as part of its growth strategy supported by growth equity partner Riverwood Capital.
-
March 2, 2020
- Buyer
- Redbrick
- Target
- Leadpages
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Addon
Redbrick, a Victoria, British Columbia-based parent organization of digital companies, has acquired Leadpages, a Minneapolis-based marketing-focused no-code website builder. Leadpages — a subscription-based SaaS with over 40,000 users, roughly $18M USD in annual revenue and a ~40-person team — will operate under Redbrick's portfolio and shared-services model to support further growth.
-
January 7, 2020
- Buyer
- Yardi
- Target
- RightSource Compliance
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
Yardi has acquired RightSource Compliance, a Minneapolis-based software consultant and developer that provides compliance solutions for affordable housing providers. RightSource's team of over 50 employees will remain in Minneapolis and its products and services will be integrated into Yardi's affordable housing product line to expand Yardi's compliance capabilities.
-
November 26, 2019
- Buyer
- Battery Ventures, Newforma
- Target
- EleVia Software
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Addon
Battery Ventures and Newforma have acquired EleVia Software, a provider of financial and operational software for architecture, engineering, and professional services firms. The deal expands Newforma’s AECO product footprint by adding EleVia’s electronic invoicing, payables, A/R management, forecasting and integration capabilities.
-
October 8, 2019
- Buyer
- Thoma Bravo
- Target
- IDS
- Seller
- SV Investment Partners
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
Thoma Bravo, a software-focused private equity firm, has acquired majority ownership in IDS, a Minneapolis-based provider of asset finance software including InfoLease and IDScloud, from SV Investment Partners. The partnership will accelerate IDS' cloud roadmap, support global growth and position IDS as a platform for industry consolidation.
-
September 25, 2019
- Buyer
- Strattam Capital, MHC Software
- Target
- MHC Software, Vanguard Systems
- Seller
- O2 Investment Partners, David Engberg / Vanguard Systems shareholders
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
Strattam Capital completed a majority investment in MHC Software and concurrently MHC acquired Vanguard Systems to expand its workflow and process automation capabilities. The combined MHC (post-transaction) serves over 1,100 customers (more than two million users) and will integrate Vanguard's mobile, eSign and ID Protect products into its enterprise content automation platform.
-
- Buyer
- Francisco Partners, Clearlake Capital Group, Perforce management team
- Target
- Perforce Software
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Growth capital
Perforce Software received a significant new equity investment from Francisco Partners, which will become an equal partner with affiliates of Clearlake Capital; Perforce's management also participated in the transaction. The capital will support Perforce's buy-and-build growth strategy to expand its DevOps platform, accelerate M&A activity and extend its global footprint; terms were not disclosed.
-
February 11, 2019
- Buyer
- Bentley Systems, Incorporated
- Target
- SignCAD Systems, Inc.
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
Bentley Systems has acquired SignCAD Systems, a Minneapolis-based provider of CAD/CAM software for traffic sign design, manufacturing, and asset management. The deal integrates SignCAD's sign design and asset-management capabilities into Bentley's OpenRoads platform to enhance roadway digital-twin and roadway asset workflows for state DOTs, municipalities, engineering firms, and manufacturers.
-
- Buyer
- Clearlake Capital Group, L.P.
- Target
- Provation Medical, Inc.
- Seller
- Wolters Kluwer
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
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.
-
October 12, 2017
- Buyer
- O2 Investment Partners, Aldine Capital Partners
- Target
- MHC Software, Inc.
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
O2 Investment Partners announced a significant investment in MHC Software, Inc., partnering with CEO John Shields and management to support the company’s next stage of growth; terms were not disclosed. Aldine Capital participated in the transaction as a financial investor, and Byline Bank provided financing support. MHC, headquartered in Burnsville, Minnesota, develops document management and electronic transaction processing software that integrates with ERP and HCM systems.
-
August 30, 2017
- Buyer
- Körber AG
- Target
- HighJump
- Seller
- Accellos Holdings, Accel-KKR
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
Körber AG has acquired HighJump, a Minneapolis-based provider of supply chain management and cloud-ready warehouse and transport software, from parent Accellos Holdings and investor Accel-KKR. The acquisition strengthens Körber's logistics software portfolio and establishes a larger US competence center to support the Group's digitization and international growth initiatives.
-
- Buyer
- JDS Uniphase Corporation (JDSU)
- Target
- Network Instruments, LLC
- Seller
- Thoma Bravo, LLC
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
JDS Uniphase Corporation agreed to acquire Network Instruments, LLC from Thoma Bravo for $200 million in cash. Network Instruments, a developer of enterprise network and application-performance management solutions, will be integrated into JDSU to expand its network management and application-performance capabilities.
Full Export
Purchase this data
Get the full acquisitions list for this page as CSV + XLSX.
Build a buyer list for your Software deal
Find buyers actively acquiring software companies.
Frequently Asked Questions
What types of software acquisitions show up most often in Minnesota?
Recent Minnesota deals include vertical software expansions (homecare/Medicaid HCBS, public safety and healthcare, and inventory/warehouse management) as well as platform upgrades in sales enablement, innovation management, and outdoor mapping.
Which recurring buyers appear in these Minnesota software deals?
Recurring names in the listed transactions include Francisco Partners, Resurgens Technology Partners, Thoma Bravo, and software and technology platform buyers such as HHAeXchange and onX.
Are there any take-private transactions in Minnesota software here?
Yes. Francisco Partners completed the take-private acquisition of Jamf, with shares delisted from NASDAQ upon close.
Do these deals include undisclosed or disclosed financial terms?
Some transactions disclose deal structure and pricing (e.g., Jamf), while others note that financial terms were not disclosed (e.g., SalesRabbit acquiring Roofle).
Related Acquisition Pages
Software Buyers & Acquisitions
Software Buyers & Acquisitions in Canada
Private Equity-Backed Software Buyers
Software Acquisitions in 2026
Software Acquisitions in 2025
Software Acquisitions in 2024
Software Acquisitions in 2023
Software Acquisitions in 2022
Software Acquisitions in 2021
Acquisitions in Minnesota
Private Equity-Backed Acquisitions in Minnesota
Acquisitions in Minnesota in 2026