Software Acquisitions in Virginia

BigBear.ai completed the acquisition of Ask Sage, a secure generative AI platform for defense and regulated environments, for $250 million in cash. The deal expands BigBear.ai's mission-ready AI portfolio by adding Ask Sage's secure generative AI workflows and agentic capabilities for government and regulated commercial customers.

Incline Equity Partners has made a private equity investment in Advanced Solutions International (ASI), a cloud engagement-management software provider serving associations, trade unions and nonprofit organizations. Incline will partner with ASI’s management team to support product expansion, innovation and continued growth of ASI’s iMIS and complementary cloud offerings.

Summit Exercises and Training LLC (SummitET) has acquired the Previstar Continual Preparedness System (CPS), an emergency management software platform, and is relaunching it with a redesigned interface and AI-enabled capabilities. SummitET named Himadri Banerjee—original developer of Previstar—as CTO to lead redevelopment and will align the platform to NIMS/ICS workflows across planning, response, resource management and GIS modules.

Banyan Software has acquired Agile Fleet, a founder-led provider of fleet management software and services. Progress Partners served as exclusive financial advisor to Agile Fleet on the strategic sale, which Banyan says will support continued growth of Agile Fleet’s vertical SaaS offerings under long-term ownership.

Momentive Software, a cloud-based software provider for mission-driven organizations, has acquired Cobalt, a provider of association and certification management software built on Microsoft Dynamics 365. The deal expands Momentive’s association management system (AMS) and certification capabilities to better serve nonprofits, associations and credentialing organizations; terms were not disclosed.

Unanet has acquired Arlington, Virginia–based Contraqer, a provider of market intelligence and procurement SaaS platforms for government contractors. The acquisition adds Contraqer's GovIntel, GovChannel, and Direct products to Unanet's growth suite to enhance opportunity identification, friction-free procurement, and proposal capabilities; terms were not disclosed.

Allvue Systems, a Vista-backed provider of alternative investment software, has acquired PFA Solutions, a specialist in carried interest and compensation software for private capital firms. The acquisition integrates PFA's FirmView capabilities into Allvue's platform to strengthen carried interest, compensation, and performance analytics functionality for private equity, venture capital and private debt managers.

TurboTenant has acquired REI Hub, a rental property accounting software provider, to expand its all-in-one property management offering for landlords. The move integrates REI Hub's bookkeeping and IRS Schedule E–ready reporting into TurboTenant's platform, enabling bundled subscriptions and broader accounting capabilities for independent landlords and property management partners.

22nd Century Technologies (TSCTI) has acquired TreasurySoft, a specialist in PeopleSoft and Oracle Fusion ERP treasury management solutions, to strengthen its Oracle ERP and treasury management capabilities. The acquisition expands TSCTI's ERP offerings for federal, state, local and transit agencies and enhances its ability to deliver integrated treasury, cash and risk management solutions.

Diversis Capital, a software- and technology-focused private equity fund, has made an investment in Decision Lens to establish a new platform and accelerate the development of its government-focused planning SaaS. Decision Lens provides integrated planning and prioritization software to defense, intelligence, federal civilian, and state and local government customers; the capital will support product development and expansion across those markets.

Washington Harbour Partners has made an over $60 million growth investment in Raft LLC to accelerate the company's R&D and expand its command-and-control, AI/ML, and edge software capabilities for Department of Defense and federal customers. Raft, an Arlington-based advanced software and data engineering firm (250+ employees), will remain led by founder and CEO Shubhi Mishra, with Washington Harbour partnering to scale product development and go-to-market for defense and federal missions.

Vizient has completed the acquisition of PrefTech OR, a cloud-based physician preference card management (PCM) SaaS that helps providers optimize operating room workflows, reduce supply waste and lower costs. The technology expands Vizient's Spend Management capabilities by adding PCM analytics and workflow automation to its services for hospitals and health systems.

Redwood Software acquired Cerberus, an Arlington, Virginia-based provider of secure file transfer solutions, to broaden its managed file transfer and secure data transmission capabilities. The deal expands Redwood's full‑stack enterprise automation portfolio and strengthens its footprint across technology, financial services, healthcare and public sectors.

RegScale, a Tysons Corner-based GRC software company, acquired GovReady, an open-source Compliance-as-Code platform, to strengthen its NIST OSCAL-enabled governance, risk and compliance offering. GovReady’s leadership and engineering team — including CEO Elin — will join RegScale’s R&D organization to accelerate OSCAL and Compliance-as-Code capabilities.

Quorum, a Serent Capital–backed public affairs software company, has acquired Capitol Canary (formerly Phone2Action) to combine Quorum’s integrated suite with Capitol Canary’s grassroots advocacy and digital mobilization tools. The deal expands Quorum’s product capabilities and client base—bringing the combined company to over 2,000 clients and a combined team of 336—and Capitol Canary co-founder Jeb Ory will join Quorum’s board.

Unison, a provider of contract lifecycle management software for government contractors, has acquired FARclause.com, a FAR/DFARS clause library and compliance tool. The acquisition complements Unison's CLM product by adding clause extraction, validation and flow-down capabilities to better serve federal contractors and streamline compliance workflows.

CAI Software, LLC acquired OpenMFG LLC, which does business as xTuple, bringing xTuple’s mid-market ERP platform for manufacturers and distributors into CAI’s suite of production‑oriented software solutions. CAI is majority‑owned by private equity firm Symphony Technology Group (STG); the acquisition is an add-on to CAI’s platform to expand ERP capabilities, integrations and modular CRM offerings for small‑ and mid‑sized manufacturers.

Funds affiliated with Madison Dearborn Partners (MDP) will acquire a controlling stake in Unison from funds managed by Carlyle, with Carlyle remaining a minority investor. The investment will support Unison's software innovation and growth in procurement, supply chain, and contract management solutions for U.S. federal agencies and government contractors; financial terms were not disclosed.

Juvare acquired disaster assessment and management software provider Crisis Track to bolster its damage assessment and recovery capabilities and to enable an off-the-shelf integration between Crisis Track and WebEOC. The deal strengthens Juvare's ability to support FEMA-focused damage assessments and improves data sharing for state and local governments, healthcare facilities, and other emergency management customers.

Modern Campus, a Riverside-backed learner engagement platform, has acquired Signal Vine, a two-way conversational text-messaging platform for higher education. The add-on will deepen Modern Campus's text-driven communication capabilities and expand personalization and AI-optimized messaging across its suite to support enrollment, retention and student success.

Tailwind Capital has acquired a majority stake in Brightspot, a Reston-based content management system (CMS) provider, from Carrick Capital Partners. The investment will support Brightspot's next phase of growth, including expanding its developer community, partner network and product capabilities.

H.I.G. Capital (through an affiliate) made a strategic growth investment in 3Pillar Global, a global software product development firm. The investment will support 3Pillar's continued scaling, talent attraction and development, and expansion of its digital product engineering capabilities.

Ansys acquired Phoenix Integration, Inc., the developer of the ModelCenter platform for model-based engineering and model-based systems engineering (MBSE), to expand its process-integration and MBSE capabilities. The acquisition, announced May 17, 2021, will broaden Ansys' solution offering by enabling multi-tool workflows and tighter integration between engineering analysis and systems models; financial terms were not disclosed.

T-Base Communications, a portfolio company of Thompson Street Capital Partners (TSCP), has acquired CommonLook, a provider of software and services for electronic document accessibility. The combination expands T-Base’s accessibility portfolio—adding CommonLook’s PDF remediation and automation capabilities used by more than 600 customers—and will broaden offerings for financial, education, healthcare and government clients. Terms were not disclosed.

Enhesa, the CGE Partners-backed global compliance and sustainability platform, has completed the acquisition of Scivera, a chemicals management software provider. The deal is Enhesa’s second add-on under CGE and expands Enhesa’s sustainable-chemistry and regulatory compliance capabilities by adding Scivera’s SciveraLENS platform and toxicology expertise.

GitKraken has acquired BigBrassBand, the maker of the popular Git Integration for Jira app, bringing the two products together to provide deeper Git and Jira workflow integration. The deal combines BigBrassBand's large Atlassian Marketplace user base with GitKraken's Git client and DevEx platform to enhance cross-tool developer and DevOps productivity.

Private equity funds managed by Blackstone and Vista Equity Partners have completed the acquisition of Ellucian from TPG Capital and Leonard Green & Partners. The long-term investment will support Ellucian's cloud and SaaS expansion, accelerate digital transformation capabilities for higher education customers, and fund international growth.

Norwegian document co-authoring and CPQ software vendor Xait has acquired Privia, a Virginia-based provider of capture and proposal management solutions serving the government contracting market. The deal adds Privia’s team (5 employees) and more than 10,000 end users from government contractor customers to Xait’s offering to accelerate expansion into the government contracting and public-sector markets; purchase price was not disclosed.

Banyan Software, a permanent-capital enterprise software acquirer, has purchased HealthRx Corporation, a Fairfax, Virginia–based provider of research workflow, lab safety and occupational health management software (the Nexus platform). The acquisition brings HealthRx's specialized compliance and medical surveillance capabilities into Banyan's portfolio to support continued investment and product growth in the biomedical research and government health markets.

insightsoftware acquired Logi Analytics on April 7, 2021 in a transaction (terms not disclosed) that adds developer-grade embedded analytics and operational reporting to insightsoftware’s financial reporting portfolio. The deal expands insightsoftware’s addressable market into embedded analytics for commercial software providers and brings Logi’s technology and global teams into insightsoftware’s platform.

DroneUp has acquired Web Teks, an enterprise software developer that built DroneUp's proprietary platforms and integrations. The acquisition brings Web Teks' engineering and FAA LAANC integration expertise in-house to accelerate product innovation and platform development for DroneUp's drone services.

Ideagen Plc has acquired US-based Qualtrax, a provider of EHSQ compliance and quality-management software headquartered in Blacksburg, Virginia. The deal gives Ideagen a stronger foothold in the US (Qualtrax will become Ideagen's North American headquarters), expands Ideagen's assurance and compliance product set, and brings Qualtrax's predominantly SaaS revenue stream and ~40 employees into the group.

Banyan Software has acquired Dominion Leasing Software, a Powhatan, Virginia-based provider of lease and loan accounting and asset management software (LeaseComplete). The acquisition brings Dominion's equipment finance-focused software and team into Banyan's portfolio to accelerate product growth and support continued customer service.

Software Growth Partners (SGP) made a majority investment in Venio Systems to accelerate growth of its VenioOne eDiscovery platform, funding product innovation, UX improvements, and go-to-market expansion. SGP will work with Venio's management to expand the platform, sales, and customer support while Kenyon Group served as exclusive financial advisor to Venio.

Montreal-based Valsoft Corporation Inc. has acquired AllTrust Networks, a Herndon, Virginia-based provider of end-to-end check cashing software and SaaS solutions. The acquisition expands Valsoft's financial services portfolio by entering the check cashing vertical; AllTrust CEO Karl Lewis will remain with the company to support integration and growth.

Global investment firm The Carlyle Group, together with Unison management, has acquired Unison from Abry Partners. Carlyle will partner with Unison’s management to invest in and grow the company’s cloud-based procurement, supply chain and contract management software for U.S. federal agencies and government contractors.

The Riverside Company has invested in QueTel, a provider of digital and physical evidence management solutions, as an add-on to its Omnigo Software public safety platform. QueTel will continue operating in Fairfax County (Chantilly), Virginia, with founder Jim Cleaveland remaining involved as a consultant and part-owner while Riverside and Omnigo work to expand product functionality, sales, and geographic reach.

Warburg Pincus has made a minority growth investment in Softeon, a Reston, Virginia-based provider of supply chain and warehouse management software. The investment will fund Softeon’s expansion of sales and marketing, geographic presence, and product innovation; financial terms were not disclosed.

Zuken Inc. completed the acquisition of Vitech Corporation, a Blacksburg, Virginia-based provider of Model-Based Systems Engineering (MBSE) software and services. The deal — which received approval from the U.S. Department of Defense and CFIUS — expands Zuken's portfolio into systems engineering and MBSE capabilities to support customers in aerospace, transportation and defense markets.

Tyler Technologies is acquiring MicroPact, a Herndon, Virginia-based provider of public sector case management and BPM software, from Arlington Capital Partners. The deal brings MicroPact's product portfolio and 469 employees into Tyler to expand its addressable market and government software capabilities.

GE Digital acquired Meridium, Inc., a global provider of asset performance management (APM) software and services, in a deal that completed in September 2016. The acquisition (inclusive of GE’s prior 26% stake) was executed at an enterprise value of $495 million to integrate Meridium’s APM capabilities into GE’s Predix platform and accelerate GE Digital’s industrial analytics and reliability offerings.

Infowave Software (TSX: IW) has entered into an agreement to acquire control of Telispark Inc., a provider of enterprise mobility applications, for US$8.4 million payable primarily in Infowave common shares. The deal gives Infowave the remaining Telispark shares (after an initial ~76% purchase) subject to closing conditions; Deloitte Consulting L.P., the largest Telispark shareholder, will hold ~19% of Infowave upon closing. The acquisition expands Infowave's enterprise mobile application capabilities and strengthens its offering into verticals such as Energy, Utilities and Government.