Software Acquisitions in Minnesota

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.