Software Divestitures in 2019
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December 12, 2019
- Buyer
- Accenture
- Target
- Zafin (professional services assets)
- Seller
- Zafin
- Industry
- Software
- Location
- Ontario, Canada
- Type
- Divestiture
Accenture has agreed to acquire select employees and professional services assets from Zafin and will become a preferred integrator for Zafin's financial services software platform under a strategic alliance. The deal, intended to strengthen Accenture's integration and development capabilities for financial services clients while allowing Zafin to focus on product innovation, is expected to close in Q1 2019; terms were not disclosed.
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December 4, 2019
- Buyer
- Verisk Analytics, Inc.
- Target
- Flexible Architecture & Simplified Technology, LLC (FAST)
- Seller
- NexPhase Capital, LP, Moelis Capital Partners (MCP) Opportunity Funds
- Industry
- Software
- Location
- New Jersey, United States
- Type
- Divestiture
Verisk Analytics has agreed to acquire Flexible Architecture & Simplified Technology, LLC (FAST) from NexPhase Capital (co-managed with Moelis Capital Partners) for $193.5 million. FAST is a New Jersey–based provider of SaaS policy administration, new business and distribution management software for life insurers; NexPhase partnered with FAST in 2015 and helped transition the business to a recurring revenue model.
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- Buyer
- FM:Systems
- Target
- Asure Software (Workspace Management portfolio)
- Seller
- Asure Software, Inc.
- Industry
- Software
- Location
- Texas, United States
- Type
- Divestiture
FM:Systems, a workplace and facilities-management software provider backed by private equity firm Accel-KKR, has acquired Asure Software's Workspace Management portfolio, including room scheduling, hotdesking and sensor hardware/analytics solutions. The transaction, announced in October 2019 and closed December 3, 2019, expands FM:Systems' IWMS and workplace offerings and transfers Asure's workspace product team to FM:Systems.
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- Buyer
- Vela Software Group, Constellation Software Inc.
- Target
- MOSAIC Business Unit (from Quorum Business Solutions)
- Seller
- Quorum Business Solutions (Quorum Software) Inc.
- Industry
- Software
- Location
- Alberta, Canada
- Type
- Divestiture
Vela Software Group, an operating group of Constellation Software Inc., has acquired the MOSAIC Business Unit from Quorum Business Solutions (Quorum Software). The acquisition brings the MOSAIC oil & gas economics, reserves and budgeting software into Vela’s portfolio, with the existing MOSAIC team continuing to develop and support the product from its Calgary and Houston offices.
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- Buyer
- Zenith American Holding, Inc.
- Target
- Innovative Software Solutions, Inc. (ISSI)
- Seller
- Advanced Solutions International, Inc. (ASI)
- Industry
- Software
- Location
- New Jersey, United States
- Type
- Divestiture
Zenith American Holding, Inc. has completed the acquisition of Innovative Software Solutions, Inc. (ISSI) from Advanced Solutions International, Inc. ISSI will operate as a wholly owned, independently managed subsidiary of Zenith American to expand its benefit-administration technology capabilities for Taft-Hartley/multi-employer funds and third-party administrators.
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August 26, 2019
- Buyer
- LINQ
- Target
- SchoolFinance
- Seller
- Optimal Solutions, Inc.
- Industry
- Software
- Location
- Michigan, United States
- Type
- Divestiture
LINQ, a Wilmington, North Carolina-based K-12 administrative software provider, acquired SchoolFinance — the Michigan-based K-12 financial management system developed by Optimal Solutions, Inc. The deal brings SchoolFinance's finance, payroll and HR capabilities into LINQ's integrated K-12 platform to expand product capabilities and geographic reach.
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- Buyer
- Providence Equity Partners (fund managed by Providence)
- Target
- OpusCapita Solutions Oy
- Seller
- Posti Group Corporation
- Industry
- Software
- Location
- Finland
- Type
- Divestiture
Posti Group agreed to sell its subsidiary OpusCapita Solutions Oy to a fund managed by Providence Equity Partners, with the agreement signed on March 8, 2019 and the price undisclosed. OpusCapita, a Finland-headquartered provider of source-to-pay, cash management and product information management software with ~350 employees and ~3,000 customers, will be positioned for increased product investment and global growth under Providence; closing was subject to approval by Germany’s Federal Cartel Office.
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March 7, 2019
- Buyer
- SugarCRM Inc.
- Target
- Collabspot Pte Ltd (email integration products)
- Seller
- Collabspot Pte Ltd
- Industry
- Software
- Location
- Singapore
- Type
- Divestiture
SugarCRM Inc. acquired the Collabspot email integration products from Collabspot Pte Ltd to strengthen email-CRM integration and improve its user experience and insights. The assets, developed by the Singapore-based Collabspot (launched 2012), will be integrated into SugarCRM's platform as part of its product expansion under new CEO Craig Charlton.
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February 18, 2019
- Buyer
- GRYYT, LLC
- Target
- Rally4, Inc., mGive (service line platform)
- Industry
- Software
- Location
- Colorado, United States
- Type
- Divestiture
GRYYT, a Denver-based social impact intelligence company, has acquired the assets of Rally4, Inc. and its mGive service line platform. The deal adds Rally4/mGive's text-to-give and mobile fundraising capabilities to GRYYT's marketing, fundraising and market-intelligence offerings for nonprofits to expand its product and service capabilities.
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January 15, 2019
- Buyer
- Konica Minolta Business Solutions U.S.A., Inc.
- Target
- ThoughtTrace, Inc. (Enterprise Content Management business segment)
- Seller
- ThoughtTrace, Inc.
- Industry
- Software
- Location
- Texas, United States
- Type
- Divestiture
Konica Minolta Business Solutions U.S.A., Inc. purchased the Enterprise Content Management (ECM) business segment from ThoughtTrace, Inc., a Houston-based software company, allowing Konica Minolta to expand its ECM and land administration offerings for oil & gas and downstream customers. ThoughtTrace divested the ECM segment to focus on its AI-driven ALI platform for contract and document analytics.
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