M&A Deal Summary

PSG and 2ndWave Software Acquire JAMS

On April 22, 2025, growth capital firm PSG and 2ndWave Software acquired software company JAMS from Fortra

Acquisition Highlights
  • This is PSG’s 44th and 2ndWave Software’s 2nd transaction in the Software sector.
  • This is PSG’s 89th and 2ndWave Software’s 3rd transaction in the United States.
  • This is PSG’s 1st and 2ndWave Software’s 1st transaction in Connecticut.

M&A Deal Summary

Date 2025-04-22
Target JAMS
Sector Software
Buyer(s) PSG
2ndWave Software
Sellers(s) Fortra
Deal Type Divestiture

Target

JAMS

Farmington, Connecticut, United States
JAMS develops enterprise job scheduling and workload automation solutions for critical IT infrastructures. JAMS was founded in 1985 and is based in Farmington, Connecticut.

Search 214,107 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 2

Buyer

PSG

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2014
PE ASSETS 14.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

PSG is a growth equity investment firm focused on the software sector. The Firm looks to partner with software and technology-enabled service companies to capitalize on opportunities and accelerate growth. PSG looks to leverage its network and best practice knowledge developed from its history of investing, to implement and execute strategies on guiding companies to the next level. PSG was established in 2014 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 128 of 130
Sector: Software M&A 44 of 45
Type: Divestiture M&A Deals 1 of 1
State: Connecticut M&A 1 of 1
Country: United States M&A 89 of 91
Year: 2025 M&A 8 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-03-25 Protecht Group

Sydney, Australia

Protecht Group provides Enterprise Risk Management services to customers across a range of industries and verticals. Its software solutions have helped hundreds of customers move away from spreadsheets and email to a more efficient and effective way to manage risk. Protecht Group was founded in 1999 and is based in Sydney, New South Wales.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-05-06 SevenRooms

New York, New York, United States

SevenRooms is a fully-integrated, data-driven guest experience platform that helps hospitality operators unlock the full revenue potential of their data. SevenRooms was founded in 2011 and is based in New York, New York.

Sell $1.2B
Buyer

2ndWave Software

Edina, Minnesota, United States

Category Company
Founded 2007
Sector Software
DESCRIPTION

2ndWave Software provides software services. 2ndWave Software was founded in 2007 and is based in Edina, Minnesota.


DEAL STATS #
Overall 3 of 3
Sector: Software M&A 2 of 2
Type: Divestiture M&A Deals 1 of 1
State: Connecticut M&A 1 of 1
Country: United States M&A 3 of 3
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-19 HealthTrio

Tucson, Arizona, United States

HealthTrio is a Software-as-a-Service provider for the healthcare market, is dedicated to web-based solutions that improve experiences in value-based care, data integration, care coordination, and member and provider engagement. HealthTrio was founded in 1999 and is based in Tucson, Arizona.

Sell -

Seller(S) 1

SELLER

Fortra

Eden Prairie, Minnesota, United States

Category Company
Founded 1982
Sector Information Technology
DESCRIPTION

Fortra provides security, systems and network management, automation, business intelligence and compliance solutions. The Company’s software and services monitor and automate processes, encrypt and secure data, and provide access to the information that large organizations need every day. Fortra was founded in 1982 and is based in Eden Prairie, Minnesota.


DEAL STATS #
Overall 1 of 1
Sector: Software M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Connecticut M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-01 Outflank

Amsterdam, Netherlands

Outflank is a specialized IT security company that performs security tests and red teaming engagements and trained nearly 1,000 IT and security professionals. The company's OST product is the market’s first solution offering a full spectrum toolset that supports other red teams in their critical jobs of testing security and the organization’s resilience to advanced adversary simulations. Outflank is based in Amsterdam, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-05-12 Lookout - Cloud Security Business

San Francisco, California, United States

Lookout's Cloud Security Business provides cloud security services.

Buy -