Tracked deals
19
19 tracked deals across 2019-2025.
Software Buyers & Acquisitions in Wisconsin
Buyer mix
Strategic-led
16 strategic · 5 pe
Top trend
Volume peaked in 2022
5 tracked deals announced in 2022.
Buyer Snapshot
Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Acquia | 1 | Provider of an open digital experience platform (DXP) bui... | Strategic (PE-backed) |
| Advarra | 1 | Provides institutional review board (IRB), biosafety comm... | Strategic (PE-backed) |
| Aptean | 1 | Global provider of industry-specific ERP, supply chain an... | Strategic |
| Arthur Ventures | 1 | Early growth capital firm investing in B2B software compa... | Investor |
| AssetWorks Risk Management Inc. | 1 | Provider of asset- and risk-management software and servi... | Strategic |
| Authenticom | 1 | Provides vendor-neutral data integration and data-hygiene... | Strategic |
| Bentley Systems | 1 | Provider of infrastructure engineering software and cloud... | Strategic |
| Blackbaud | 1 | Cloud software company providing fundraising, CRM and oth... | Strategic |
| Deltek | 1 | Global provider of enterprise software and information so... | Strategic |
| Embrace Software Inc. | 1 | Acquires and invests in niche, industry-specific software... | Strategic |
Acquisition Volume in Software in Wisconsin by Year
Last 7 years
Supporting Data
Recent Transactions
-
October 23, 2025
- Buyer
- Jump
- Target
- Mobile Assistant
- Industry
- Software
- Location
- Wisconsin, United States
- Type
- Buyout
Jump, an AI platform for financial advisors, has acquired Mobile Assistant, a provider of dictation-based transcription services for advisors. The deal integrates Mobile Assistant's transcription capabilities into Jump's full-cycle AI workflow to expand product capabilities and broaden Jump's reach among financial advisors.
-
June 5, 2025
- Buyer
- SaaS Opportunity Capital
- Target
- Celera Systems LLC
- Industry
- Software
- Location
- Wisconsin, United States
- Type
- Buyout
Midwest-based private equity firm SaaS Opportunity Capital (SOC) has acquired Celera Systems, a Milwaukee-based provider of workflow and order/fulfillment software used by large financial services firms. SOC intends to expand Celera's platform beyond its historical bundled distribution model with Toppan Merrill, accelerate integrations (CRM, DAM), add AI capabilities, and bring the solution to a broader set of financial services and regulated-enterprise customers.
-
July 12, 2024
- Buyer
- Main Capital Partners
- Target
- Flexagon
- Industry
- Software
- Location
- Wisconsin, United States
- Type
- Buyout
Main Capital Partners has acquired Flexagon, a Wisconsin-based provider of DevOps software and the FlexDeploy platform. Main intends to accelerate Flexagon's growth through a selective buy-and-build strategy to expand its presence in the enterprise DevOps market.
-
February 29, 2024
- Buyer
- JDM Technology Group
- Target
- Penta Technologies, STRUXI
- Industry
- Software
- Location
- Wisconsin, United States
- Type
- Addon
JDM Technology Group acquired Milwaukee-based construction software businesses Penta Technologies and STRUXI, closing the transaction on February 29, 2024. The deal expands JDM’s construction software portfolio—adding Penta’s enterprise construction ERP capabilities and STRUXI’s labor and field management solutions—while both businesses will continue operating under their own brands.
-
August 21, 2023
- Buyer
- Spectrum Equity, Arthur Ventures
- Target
- VBA
- Industry
- Software
- Location
- Wisconsin, United States
- Type
- Growth capital
Spectrum Equity has invested $156 million to acquire a majority stake in healthcare benefits software company VBA, with existing investor Arthur Ventures participating. The funding will be used to accelerate product development and grow headcount as Spectrum partners with VBA’s management by joining the board.
-
April 5, 2023
- Buyer
- Embrace Software Inc.
- Target
- Guardian Software Systems, Inc.
- Industry
- Software
- Location
- Wisconsin, United States
- Type
- Buyout
Embrace Software Inc. has acquired Guardian Software Systems, a developer of ERP and MES software for the metal casting and foundry industry. The acquisition expands Embrace's manufacturing software offerings and will keep the Guardian team and brand in place to continue product development and customer support.
-
February 28, 2023
- Buyer
- Volaris Group
- Target
- WennSoft
- Industry
- Software
- Location
- Wisconsin, United States
- Type
- Buyout
Volaris Group, an operating group of Constellation Software, has acquired WennSoft (formerly Key2Act), a New Berlin, Wisconsin-based provider of field service management and building intelligence software. WennSoft will operate as an independent business unit under its existing leadership as Volaris seeks to expand its capabilities and presence in the Microsoft-enabled field service management vertical.
-
December 6, 2022
- Buyer
- Authenticom, Steve Cottrell
- Target
- Motive Retail
- Seller
- Kim Campassi, Dan Seats
- Industry
- Software
- Location
- Wisconsin, United States
- Type
- Buyout
Steve Cottrell, founder and CEO of Authenticom, has acquired Motive Retail to combine complementary data-integration products and platforms for the automotive retail ecosystem. The deal brings Motive's API integration capabilities together with Authenticom's DealerVault and data-hygiene offerings to expand capability and service coverage for OEMs, dealerships and software vendors.
-
November 7, 2022
- Buyer
- OutSystems
- Target
- Ionic
- Industry
- Software
- Location
- Wisconsin, United States
- Type
- Buyout
OutSystems has acquired Ionic to combine Ionic’s widely used open-source mobile and web development tools with OutSystems’ high-performance low-code platform. The deal is intended to expand OutSystems’ developer-focused capabilities and deliver more options for enterprise teams building mobile and desktop applications.
-
October 4, 2022
- Buyer
- TMA Systems, Silversmith Capital Partners
- Target
- Eagle Technology
- Industry
- Software
- Location
- Wisconsin, United States
- Type
- Buyout
TMA Systems, a provider of CMMS and EAMS solutions, agreed to acquire Eagle Technology, a Wisconsin-based CMMS software developer serving enterprise clients globally. The deal is intended to accelerate predictive maintenance and expand TMA’s presence into additional industries using IoT and building automation integrations.
-
August 22, 2022
- Buyer
- Blackbaud
- Target
- Kilter
- Industry
- Software
- Location
- Wisconsin, United States
- Type
- Buyout
Blackbaud acquired Kilter, an activity-based engagement mobile app, to expand activity-based peer-to-peer fundraising and support health and wellness initiatives for nonprofit and corporate customers. Blackbaud plans to integrate Kilter into its TeamRaiser fundraising product immediately and extend capabilities to the YourCause CSRconnect platform in 2023.
-
July 14, 2022
- Buyer
- Deltek
- Target
- TIP Technologies
- Seller
- TIP Technologies
- Industry
- Software
- Location
- Wisconsin, United States
- Type
- Buyout
Deltek has entered into an agreement to acquire the assets of TIP Technologies, a provider of quality management system (QMS) and manufacturing execution system (MES) software. The acquisition adds QMS/MES capabilities to Deltek's product portfolio to better serve government contractors, aerospace & defense, and engineer-to-order manufacturers; the deal was expected to close in Q3 2022.
-
- Buyer
- Bentley Systems
- Target
- Power Line Systems
- Seller
- TA Associates
- Industry
- Software
- Location
- Wisconsin, United States
- Type
- Buyout
Bentley Systems agreed to acquire Power Line Systems, a Madison, Wisconsin–headquartered leader in transmission-line engineering software, from private equity firm TA Associates for approximately $700 million. The acquisition expands Bentley's grid integration and digital twin offerings by adding transmission-grade PLS products to its portfolio and will operate within Bentley's new Grid Integration Group upon closing.
-
September 8, 2021
- Buyer
- Acquia
- Target
- Widen
- Industry
- Software
- Location
- Wisconsin, United States
- Type
- Buyout
Acquia announced on September 8, 2021 that it has signed a definitive agreement to acquire Widen, a cloud-native provider of digital asset management (DAM) and product information management (PIM) software. The acquisition brings enterprise-grade DAM and PIM capabilities into Acquia Open DXP, enabling richer digital experiences and expanded product capabilities for Acquia customers; Widen will remain available standalone or as part of the Acquia platform.
-
April 5, 2021
- Buyer
- PSG
- Target
- Singlewire Software
- Industry
- Software
- Location
- Wisconsin, United States
- Type
- Growth capital
PSG, a growth equity firm, has made a strategic investment in Singlewire Software to support the product strategy and expansion of its InformaCast mass notification platform. Financial terms were not disclosed; PSG partners Tom Reardon and Chris Andrews joined Singlewire’s board alongside Barry Allen.
-
January 6, 2021
- Buyer
- Volaris Group Inc., AssetWorks Risk Management Inc.
- Target
- Oasys, LLC
- Industry
- Software
- Location
- Wisconsin, United States
- Type
- Addon
Volaris Group, through its AssetWorks Risk Management business unit, has acquired the assets of Oasys, LLC, a Franklin, Wisconsin–based provider of special education software for K-12 school districts. The acquisition expands AssetWorks’ offering for K-12 customers by adding a full special education suite (IEPs, RTI, Section 504, Medicaid reimbursement and related modules).
-
July 9, 2020
- Buyer
- Health Catalyst, Inc.
- Target
- healthfinch, Inc.
- Industry
- Software
- Location
- Wisconsin, United States
- Type
- Buyout
Health Catalyst, a healthcare data and analytics company, entered into a definitive agreement to acquire Madison-based healthfinch, a developer of EMR-integrated clinical workflow optimization software. The acquisition (reported at ~$40 million by media outlets) will bring healthfinch's EMR-embedded insights into Health Catalyst's Data Operating System to augment clinical workflows and strengthen its population health portfolio; the deal was expected to close in Q3 2020 and to be funded with a mix of stock and cash.
-
June 24, 2020
- Buyer
- Aptean
- Target
- WorkWise, LLC
- Industry
- Software
- Location
- Wisconsin, United States
- Type
- Buyout
Aptean, a global provider of industry-specific enterprise software, has acquired WorkWise, LLC, a developer of ERP and CRM solutions for discrete manufacturers. The acquisition enhances Aptean's manufacturing-focused product portfolio and expands its customer base and market share in engineered manufacturing sectors.
-
September 5, 2019
- Buyer
- Advarra
- Target
- Forte
- Seller
- Primus Capital
- Industry
- Software
- Location
- Wisconsin, United States
- Type
- Buyout
Advarra, a leading provider of IRB and research compliance services, announced its intent to acquire Forte, a market-leading provider of clinical research technology including the OnCore CTMS. The deal (Forte sold by Primus Capital) expands Advarra's site-centric technology and eClinical capabilities to better serve academic medical centers, cancer centers, and health systems.
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