M&A Deal Summary

Financeware Acquires Wealthcare Capital Management

On January 1, 2018, Financeware acquired information technology company Wealthcare Capital Management from NewSpring Capital

Acquisition Highlights
  • This is Financeware’s 2nd transaction in the Information Technology sector.
  • This is Financeware’s 2nd transaction in the United States.
  • This is Financeware’s 1st transaction in Virginia.

M&A Deal Summary
Date 2018-01-01
Target Wealthcare Capital Management
Sector Information Technology
Buyer(s) Financeware
Sellers(s) NewSpring Capital
Deal Type Add-on Acquisition

Target

Wealthcare Capital Management

Richmond, Virginia, United States
Wealthcare Capital Management is widely credited as a pioneer in goals-based wealth management technology and goals-driven investing. Using a patented process, Wealthcare provides wealth advisors with a straightforward solution to help clients clarify their goals and risk preferences, align their investment risk with what they value most, and avoid being misguided by the abstract and tired questionnaire-based industry approach to risk tolerance. Wealthcare’s proprietary Comfort Zone functionality provides the client with clarity and confidence in the path they have chosen, and control of key variables to keep them on track through volatile and evolving markets. Wealthcare Capital Management was founded in 1999 and is based in Richmond, Virginia.

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Buyer(S) 1

Buyer

Financeware

West Chester, Pennsylvania, United States
Category Company
Sector Financial Services
DESCRIPTION

Financeware is a platform focused exclusively on tech infrastructure of the wealth management industry. Financeware was born of a need to connect winning solutions to the fast-moving targets, partners and market opportunities playing out across the entire wealth scape. Financeware is based in West Chester, Pennsylvania.

DEAL STATS #
Overall 2 of 3
Sector (Information Technology) 2 of 2
Type (Add-on Acquisition) 2 of 3
State (Virginia) 1 of 1
Country (United States) 2 of 3
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-01 Vertical Management Systems

Pasadena, California, United States

Vertical Management Systems, is a provider of data, financial networking, and account aggregation technology. For nearly 25 years, VMS has designed, developed and hosted accounting and securities process-and-control solutions for the largest financial institutions in the United States. VMS’s three core products include its retirement platform, Retirement Revolution, a leading supplier of next-generation retirement solutions; Mutual Fund Desk (MFD), a mutual fund process-and-control platform; and Specialized Information Services (SIS), a comprehensive source of customized and audited financial data. Vertical Management Systems was founded in 1992 and is based in Pasadena, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-05 QUODD Financial Information Services

Jersey City, New Jersey, United States

QUODD Financial Information Services, Inc. is a provider of financial market data and information analysis tools for the wealth management industry. QUODD Financial Information Services is based in Jersey City, New Jersey.

Buy -

Seller(S) 1

SELLER

NewSpring Capital

Radnor, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NewSpring Capital is a private investment firm focused on growth companies in the Mid-Atlantic US. The Firm can provide both growth equity and junior capital to prospective companies. NewSpring's target investment size for both mezzanine and equity financing is $2 to $5 million, although for new ventures, the Firm can commit up to $10 million. Sectors of interest include specialty manufacturing, technology, business services, information technology, life science, healthcare services, and medical devices. NewSpring Capital was formed in 1999 and is based in Radnor, Pennsylvania with an additional office in Short Hills, New Jersey.

DEAL STATS #
Overall 46 of 86
Sector (Information Technology) 7 of 16
Type (Add-on Acquisition) 27 of 48
State (Virginia) 1 of 3
Country (United States) 45 of 85
Year (2018) 3 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-01 Vertical Management Systems

Pasadena, California, United States

Vertical Management Systems, is a provider of data, financial networking, and account aggregation technology. For nearly 25 years, VMS has designed, developed and hosted accounting and securities process-and-control solutions for the largest financial institutions in the United States. VMS’s three core products include its retirement platform, Retirement Revolution, a leading supplier of next-generation retirement solutions; Mutual Fund Desk (MFD), a mutual fund process-and-control platform; and Specialized Information Services (SIS), a comprehensive source of customized and audited financial data. Vertical Management Systems was founded in 1992 and is based in Pasadena, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-16 Pillar Technology Group

Columbus, Ohio, United States

Pillar Technology Group LLC is a technology consulting firm that offers its clients the opportunity to solve business problems in a no-constraints, creative, collaborative environment. Pillar Technology Group LLC was founded in 1996 and is based in Columbus, Ohio.

Buy -
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