M&A Deal Summary

ConnectWise Acquires Axcient

On September 10, 2024, ConnectWise acquired software company Axcient from K1 Investment Management

Acquisition Highlights
  • This is ConnectWise’s 1st transaction in the Software sector.
  • This is ConnectWise’s 8th transaction in the United States.
  • This is ConnectWise’s 1st transaction in Colorado.

M&A Deal Summary
Date 2024-09-10
Target Axcient
Sector Software
Buyer(s) ConnectWise
Sellers(s) K1 Investment Management
Deal Type Add-on Acquisition

Target

Axcient

Denver, Colorado, United States
Axcient is a provider of Disaster Recover-as-a-Service (DRaaS) solutions that solves complicated technology problems with powerfully simple cloud solutions to enable businesses to run at their full potential. Axcient’s cloud-based disaster recovery and data protection platform empowers businesses of all sizes to operate with the resilience and agility of the enterprises while dramatically reducing data center footprint, complexity and cost. Axcient was founded in 2002 and is based in Denver, Colorado.

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Buyer(S) 1

Buyer

ConnectWise

Tampa, Florida, United States
Category Company
Founded 1982
Sector Information Technology
DESCRIPTION

ConnectWise is a provider of software solutions to the Managed Service Provider (MSP) and SMB ecosystem. The company provides the most comprehensive business automation platform in its industry. This includes Professional Services Automation (PSA); Remote Monitoring and Management (RRM); Configure, Price, Quote (CPQ), plus Remote Connection and Security offerings for more than 25,000 partners in more than 65 countries. ConnectWise was founded in 1982 and is based in Tampa, Florida.

DEAL STATS #
Overall 9 of 9
Sector (Software) 1 of 1
Type (Add-on Acquisition) 9 of 9
State (Colorado) 1 of 1
Country (United States) 8 of 8
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-10 SkyKick

Seattle, Washington, United States

SkyKick is a provider of cloud management software for IT service providers. SkyKick's products help migrate, back up, manage, and secure customers in the cloud. SkyKick is based in Seattle, Washington.

Buy -

Seller(S) 1

SELLER

K1 Investment Management

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2011
Size Small
Type Sector Focused
DESCRIPTION

K1 Investment Management, LLC is a West Coast US-based private equity firm investing in high-growth private companies across North America. The Firm has a special interest in enterprise software companies and looks to provide meaningful strategic and operational guidance when working with portfolio companies. K1 Investment Management was established in 2011 and is headquartered in El Segundo, California.

DEAL STATS #
Overall 12 of 13
Sector (Software) 6 of 7
Type (Add-on Acquisition) 5 of 6
State (Colorado) 1 of 1
Country (United States) 10 of 10
Year (2024) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-10 MariaDB

Redwood City, California, United States

MariaDB is a provider of database solutions. The Company's products include the MySQL and MariaDB databases in the enterprise and cloud. MariaDB is based in Redwood City, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-28 Irwin

Toronto, Ontario, Canada

Irwin provides investor relations software to public companies, investor relation consultancies, and investment banks. The company's software helps customers identify new investors, manage current relationships, and track the output of their IR initiatives. Its end-to-end platform includes a CRM and native communications tool. Irwin was founded in 2017 and is based in Toronto, Ontario.

Sell -
Mergr

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