Software Acquisitions in Rhode Island

OpenGov has acquired Ignatius, a low-code AI platform that automates public sector forms, workflows and custom applications, to accelerate AI and no-code capabilities for local and state governments. The acquisition expands OpenGov's product portfolio for grants management, disaster preparedness, infrastructure banking and other government program administration.

Resurgens Technology Partners, a software-focused private equity firm, has made an investment in Relay, a provider of special education and Medicaid workflow and reimbursement software for K-12 school districts. The firm will partner with Relay's management to accelerate product innovation, expand go-to-market efforts and scale the company's reach across U.S. school districts; Lock 8 Partners was the company's prior majority investor.

AudioEye, a digital accessibility platform provider, has acquired The Bureau of Internet Accessibility (BoIA) to expand its automated testing and human-led accessibility services. The deal will fold BoIA's platform, auditing capabilities, and staff into AudioEye to strengthen custom solutions and provide always-on accessibility monitoring for customers across retail, food & restaurants, transportation and energy sectors.

Frontier Growth has made a $31 million minority growth equity investment in Wealthbox, a CRM SaaS platform for financial advisors. As part of the deal, Frontier Growth partners Richard Maclean and Matt Williams will join Wealthbox's board to support product development and scaling.

Symphony Technology Group (STG) completed a majority investment recapitalization of CAI Software, LLC, a provider of ERP, MES and WMS software and related services. Main Street Capital Corporation exited its debt and equity investments as part of the recapitalization and realized a gain while receiving a minority equity stake in the acquirer.

Symphony Technology Group (STG) has made a majority investment in CAI Software, a Rhode Island–based provider of ERP, MES, WMS, EDI and production-oriented software for manufacturing and distribution. STG said the investment will accelerate CAI's product innovation and growth through organic investments and M&A while partnering with CAI's existing owners and management team.

CAI Software, LLC has acquired Radley Corporation, a developer of electronic data interchange (EDI) and data collection software for manufacturers and distributors. Radley will operate as a subsidiary of CAI and will continue to maintain its sales, support and development operations; financial terms were not disclosed and the transaction closed on December 23, 2020.

Main Street Capital Corporation completed a $19.9 million follow-on investment in CAI Software, LLC to support CAI’s acquisition of a complementary business in the supply chain and warehouse management systems industry. The financing (approximately $19.5 million of first-lien senior secured term debt and $0.4 million of equity) aims to expand CAI’s customer base and service offering in ERP, MES and WMS solutions.

Constellation Software’s N. Harris Computer Corporation has acquired Amazing Charts, an EHR, practice management and medical billing software provider serving nearly 4,000 practices. The acquisition expands Harris’s outpatient-focused healthcare software capabilities and adds Amazing Charts’ large base of independent physician and specialty outpatient customers.

Vector Informatik GmbH has acquired Vector Software, Inc., the developer of the VectorCAST automated testing environment. Capstone Partners advised Vector Software on the transaction; the deal expands Vector Informatik's automated testing capabilities and extends its testing portfolio into industries beyond automotive, leveraging VectorCAST's use in safety‑critical markets such as aerospace and medical devices.

Cerca Group led a recapitalization of Computer Associates, Inc. (CAI), an ERP software provider serving food, lumber/building materials, precious metals refining, and jewelry manufacturing industries. The investment group included CAI's management team and Main Street Capital Corporation; CAI's founder James H. McCooey remains CEO and a board member, and financial terms were not disclosed.