Software Divestitures in 2020
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December 28, 2020
- Buyer
- Funds advised by Apax Partners, Azentio Software
- Target
- 3i Infotech - Software Products business (Azentio Software)
- Seller
- 3i Infotech Limited
- Industry
- Software
- Location
- Maharashtra, India
- Type
- Divestiture
Funds advised by Apax Partners acquired the Software Products business of 3i Infotech for INR 10 billion and transferred the assets into a newly formed company, Azentio Software, wholly owned by the Apax Funds. The carve‑out creates a PE‑backed, focused software platform serving banking, financial services and insurance (BFSI) customers with plans for increased R&D, sales investment and future M&A across the region.
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December 22, 2020
- Buyer
- NuWave Solutions, AE Industrial Partners, LP
- Target
- ProModel Government Services
- Seller
- ProModel Corporation
- Industry
- Software
- Location
- United States
- Type
- Divestiture
NuWave Solutions, a Washington, D.C.-area advanced analytics and AI provider, has acquired ProModel Government Services from ProModel Corporation. The acquisition (terms undisclosed) expands NuWave’s mission-focused analytics and model-based decision-support capabilities for the Department of Defense and other federal agencies; NuWave is PE-backed by AE Industrial Partners.
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December 14, 2020
- Buyer
- FORM.com, Diversis Capital
- Target
- GoSpotCheck
- Industry
- Software
- Location
- Colorado, United States
- Type
- Divestiture
FORM.com, a provider of mobile data collection and workflow automation backed by Diversis Capital, acquired the GoSpotCheck product line in a carveout/divestiture. The deal merges GoSpotCheck's mobile task management and image-recognition capabilities into FORM.com's low-code/no-code field data platform to expand capabilities for mid-size and large global enterprise customers.
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October 30, 2020
- Buyer
- Francisco Partners
- Target
- MyFitnessPal
- Seller
- Under Armour, Inc.
- Industry
- Software
- Location
- California, United States
- Type
- Divestiture
Francisco Partners has agreed to acquire the MyFitnessPal platform from Under Armour for $345 million (including potential earn-outs), a transaction expected to close in Q4 2020 subject to customary conditions. Under Armour said the sale is part of a strategic simplification to focus on its core consumer business, while Francisco Partners plans to operate MyFitnessPal as a standalone company to pursue recurring-revenue growth.
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July 14, 2020
- Buyer
- Kerridge Commercial Systems
- Target
- Unit4 Wholesale
- Seller
- Unit4
- Industry
- Software
- Location
- Netherlands
- Type
- Divestiture
Kerridge Commercial Systems (KCS) acquired Unit4 Wholesale in the Netherlands to strengthen its ERP offering for the wholesale and distribution market in the Benelux. The deal expands KCS’s presence in Europe and brings Unit4 Wholesale’s customers and local teams into the KCS group; Unit4 is the selling party.
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- Buyer
- Hyland
- Target
- Streamline Health ECM business
- Seller
- Streamline Health Solutions, Inc.
- Industry
- Software
- Location
- United States
- Type
- Divestiture
Hyland has completed the acquisition of the enterprise content management (ECM) business from Streamline Health Solutions, expanding Hyland Healthcare's content services and enterprise imaging offerings. The deal transfers Streamline Health's ECM customers and employees to Hyland and broadens Hyland's capabilities to help healthcare organizations manage clinical documents, medical images and other unstructured content.
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