Operating Company Software

ASG

Walnut Creek, CA, United States

ASG is backed by Alpine Investors and invests in uniquely positioned vertical SaaS companies, building them into industry-leading software platforms.

Focus Areas
Vertical SaaS

Tracked deals

35

35 tracked deals across 2019-2025.

Recent pace

2

2 tracked deals announced in the last 12 months.

Deal mix

Addon

23 addon · 12 buyout

ASG Acquisition Volume by Year

Last 7 years

Acquisition volume by year Annual acquisition counts for the last 7 years for ASG. 1 2019 4 2020 8 2021 9 2022 6 2023 5 2024 2 2025

Supporting Data

Recent Transactions

Showing the 12 most recent of 35 tracked deals for ASG.

  • October 22, 2025
    Buyer
    saas.group
    Target
    Ayrshare
    Seller
    Ayrshare founders (Geoff Bourne, Boris Markovich)
    Industry
    Cloud & SaaS
    Type
    Buyout

    saas.group has acquired Ayrshare, an API-first social media publishing and analytics platform founded in 2020. The deal expands saas.group's SaaS portfolio and strengthens its social media and developer-facing capabilities while supporting Ayrshare's next stage of growth.

  • September 17, 2025
    Buyer
    saas.group
    Target
    DAKboard
    Industry
    Manufacturing
    Type
    Buyout

    saas.group has acquired DAKboard, a Syracuse-based provider of customizable digital display hardware and software founded by Dan King in 2017. The acquisition expands saas.group's portfolio into smart-home and digital-organization displays and will allow DAKboard to accelerate product development and market reach with saas.group's resources.

  • Buyer
    saas.group
    Target
    KingWebMaster
    Industry
    Cloud & SaaS
    Type
    Buyout

    saas.group has acquired KingWebMaster, the maker of the Advanced Shipping Manager shipping-rate SaaS for e-commerce platforms like Shopify and BigCommerce. The deal expands saas.group's portfolio of e-commerce-focused SaaS products and aims to accelerate product development and service upgrades for KingWebMaster's merchant customers.

  • September 10, 2024
    Buyer
    saas.group
    Target
    Timebutler
    Seller
    Juan Gil / Timebutler founders
    Industry
    Cloud & SaaS
    Location
    Brandenburg, Germany
    Type
    Buyout

    saas.group has acquired Timebutler, a Germany-based HR SaaS provider specializing in time recording and absence management for SMEs. The acquisition expands saas.group's portfolio in the DACH region and will allow Timebutler to leverage saas.group's resources to accelerate product development and customer service.

  • September 9, 2024
    Buyer
    saas.group
    Target
    picdrop
    Industry
    Cloud & SaaS
    Location
    Germany
    Type
    Addon

    saas.group has acquired picdrop, a Berlin-based SaaS platform that provides image file sharing and digital galleries for professional photographers and creative teams. picdrop—founded in 2014 and serving 160,000+ users mainly across the DACH region—becomes the latest addition to saas.group’s portfolio as the firm continues its European SaaS roll-up strategy.

  • Buyer
    saas.group
    Target
    INFOnline
    Industry
    Data & Analytics
    Location
    North Rhine-Westphalia, Germany
    Type
    Buyout

    saas.group has acquired INFOnline, a German provider of cookieless and cross-domain digital audience measurement. The deal expands saas.group's portfolio in the DACH region and aims to bolster INFOnline's product development and market position in digital audience measurement.

  • Buyer
    saas.group
    Target
    DeployHQ
    Seller
    Krystal
    Industry
    Cloud & SaaS
    Location
    England, United Kingdom
    Type
    Addon

    saas.group has acquired DeployHQ, a deployment automation tool formerly operated by Krystal, marking saas.group’s 19th acquisition and its first in the UK. The deal brings DeployHQ’s deployment/CI/CD capabilities into saas.group’s portfolio while keeping the product hosted on Krystal’s Katapult platform; Krystal sold the asset to focus on its core hosting business.

  • November 9, 2023
    Buyer
    saas.group
    Target
    gominga
    Industry
    Software
    Location
    Bavaria, Germany
    Type
    Buyout

    saas.group has acquired gominga, a Munich-based provider of review and ratings management SaaS used by global brands. The deal adds review management and customer feedback capabilities to saas.group's portfolio and aims to accelerate gominga's growth across DACH and international eCommerce markets.

  • September 19, 2023
    Buyer
    saas.group
    Target
    DashThis
    Seller
    Stéphane Guérin
    Industry
    Cloud & SaaS
    Location
    Quebec, Canada
    Type
    Buyout

    saas.group has acquired DashThis, the Quebec-based marketing reporting SaaS founded in 2011. DashThis—used by ~2,700 customers and integrated with 34+ marketing tools—will join saas.group's portfolio to expand its suite of marketing tools and accelerate product development.

  • Buyer
    saas.group
    Target
    AddSearch
    Industry
    Cloud & SaaS
    Location
    Finland
    Type
    Addon

    saas.group has acquired AddSearch, a Helsinki-based provider of hosted website search and recommendation solutions. The deal marks saas.group's 15th acquisition and its first entry into the Nordics, aimed at expanding its SaaS portfolio and enhancing website search capabilities for customers.

  • Buyer
    Aplos, ASG, Alpine Investors
    Target
    Raisely
    Industry
    Cloud & SaaS
    Location
    Victoria, Australia
    Type
    Addon

    Raisely, a nonprofit fundraising SaaS platform, will join Aplos — the foundation of ASG’s nonprofit software vertical (backed by Alpine Investors). Raisely’s founders and team will remain in their roles as the combined organization aims to accelerate growth and expand fundraising capabilities for nonprofits, with a focus on scaling in the U.S.

  • Buyer
    saas.group
    Target
    zenloop
    Industry
    Cloud & SaaS
    Location
    Berlin, Germany
    Type
    Buyout

    saas.group has acquired zenloop, a Berlin-based customer experience management (CXM) SaaS platform serving mid-sized and large enterprises in the DACH region and beyond. zenloop will join saas.group's enterprise software portfolio and be led by CEO Felix Schlenther, with co-founder Björn Kolbmüller acting as special advisor.

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