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  6. mPulse Acquires Clarity

M&A Deal Summary

mPulse Acquires Clarity

On August 27, 2025, mPulse acquired software company Clarity from Morgan Stanley Capital Partners and Constitution Capital Partners

Acquisition Highlights
  • This is mPulse’s 1st transaction in the Software sector.
  • This is mPulse’s 6th transaction in the United States.
  • This is mPulse’s 1st transaction in Connecticut.

M&A Deal Summary
Date 2025-08-27
Target Clarity
Sector Software
Buyer(s) mPulse
Sellers(s) Morgan Stanley Capital Partners
Constitution Capital Partners
Deal Type Add-on Acquisition

Target

Clarity

Madison, Connecticut, United States
Clarity is a data and technology-driven provider of member communication solutions for health insurance payors, third party administrators (“TPAs”), and dental insurance companies. The Company’s software collects, consolidates and cleanses its customers’ data from multiple sources to generate compliant and personalized digital member communications across the enrollment, claims, and payments, and compliance functions of its customers. Clarity was founded in 2007 and is based in Madison, Connecticut.

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Buyer(S) 1

Buyer

mPulse

Los Angeles, California, United States
Category Company
Sector Information Technology
DESCRIPTION

mPulse is a provider of conversational AI solutions for the healthcare industry. mPulse is reimagining health engagement to inspire healthier lives and deeper relationships between healthcare organizations and their consumers. mPulse is based in Los Angeles, California.

DEAL STATS #
Overall 6 of 6
Sector: Software M&A 1 of 1
Type: Add-on Acquisition M&A Deals 5 of 5
State: Connecticut M&A 1 of 1
Country: United States M&A 6 of 6
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-12 Zipari

Brooklyn, New York, United States

Zipari is a healthcare technology company that develops products for health insurance carriers to engage with consumers in new and innovative ways. Zipari was founded in 2014 and is based in Brooklyn, New York.

Buy -

Seller(S) 2

SELLER

Morgan Stanley Capital Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1985
Size Large
Type Sector Agnostic
DESCRIPTION

Morgan Stanley Capital Partners (MSCP) is the private investment arm of financial services firm and investment bank Morgan Stanley. MSCP looks to partner with founders looking to leverage Morgan Stanley's resources, as well as fund corporate carveouts, recapitalizations, buyouts, and industry consolidations. Areas of interest include business services, industrials, education, consumer products/services, food/beverage, retail, healthcare, and packaging. MSCP primarily targets businesses operating in North America valued between $75 and $750 million. Morgan Stanley Capital Partners is based in New York City.

DEAL STATS #
Overall 29 of 30
Sector: Software M&A 2 of 2
Type: Add-on Acquisition M&A Deals 13 of 14
State: Connecticut M&A 1 of 1
Country: United States M&A 24 of 25
Year: 2025 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-06-18 Thermogenics

Aurora, Ontario, Canada

Thermogenics is a manufacturer of coil-tube steam and hot-water boilers and related equipment used in industrial, commercial, and institutional applications in the North American market. Thermogenics was founded in 1975 and is based in Aurora, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-11-04 Comar

Voorhees, New Jersey, United States

Comar is a manufacturing company that designs and manufactures plastic packaging and dispensing solutions, as well as contract manufacturing services for the medical and healthcare sectors, including diagnostics, surgical, and drug-delivery applications. The Company offers a range of molding technologies (injection, blow, etc.) and custom product development from concept through commercialization. Comar was formed in 1949 and is headquartered in Voorhees, New Jersey.

Sell -
SELLER

Constitution Capital Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2008
PE ASSETS 6.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Constitution Capital Partners is a private equity and asset management firm focused on opportunities throughout North America. Constitution Capital typically invests in private equity partnerships, however the Firm also makes direct private equity and credit investments. Constitution Capital Partners does not have any sector preferences. Constitution Capital Partners was formed in 2008 and is headquartered in Andover, Massachusetts.

DEAL STATS #
Overall 32 of 33
Sector: Software M&A 1 of 1
Type: Add-on Acquisition M&A Deals 17 of 18
State: Connecticut M&A 2 of 2
Country: United States M&A 29 of 30
Year: 2025 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-06-02 Maple Donuts

York, Pennsylvania, United States

Maple Donuts produces frozen bakery products for in-store and foodservice bakery programs across the nation. Maple Donuts was formed in 1946 and is based in York, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-11-04 Comar

Voorhees, New Jersey, United States

Comar is a manufacturing company that designs and manufactures plastic packaging and dispensing solutions, as well as contract manufacturing services for the medical and healthcare sectors, including diagnostics, surgical, and drug-delivery applications. The Company offers a range of molding technologies (injection, blow, etc.) and custom product development from concept through commercialization. Comar was formed in 1949 and is headquartered in Voorhees, New Jersey.

Sell -
Mergr

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