M&A Deal Summary

Remitly Global Acquires RareWire

On August 16, 2022, Remitly Global acquired software company RareWire from Cloud Inventory for 80M USD

Acquisition Highlights
  • This is Remitly Global’s 1st transaction in the Software sector.
  • This is Remitly Global’s largest (disclosed) transaction.
  • This is Remitly Global’s 1st transaction in the United States.
  • This is Remitly Global’s 1st transaction in Missouri.

M&A Deal Summary
Date 2022-08-16
Target RareWire
Sector Software
Buyer(s) Remitly Global
Sellers(s) Cloud Inventory
Deal Type Divestiture
Deal Value 80M USD

Target

RareWire

Kansas City, Missouri, United States
RareWire is a software company that makes app ideas come to life. RareWire produces powerful native iOS and Android apps for companies such as Black & Veatch, Boulevard Brewery, Forever 21, West Point, and hundreds of others around the globe. RareWire was founded in 2015 and is based in Kansas City, Missouri.

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Buyer(S) 1

Buyer

Remitly Global

Seattle, Washington, United States
Category Company
Founded 2011
Sector Internet Software and Services
Employees2,700
Revenue 944M USD (2023)
DESCRIPTION

Remitly Global is a digital financial services provider for immigrants and their families in over 170 countries around the world. Remitly helps immigrants send money home in a safe, reliable and transparent manner. Its digitally-native, cross-border remittance app eliminates the long wait times, complexities and fees typical of traditional remittance processes. Remitly Global was founded in 2011 and is based in Seattle, Washington.

DEAL STATS #
Overall 1 of 1
Sector (Software) 1 of 1
Type (Divestiture) 1 of 1
State (Missouri) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Cloud Inventory

Kansas City, Missouri, United States
Category Company
Founded 1979
Sector Software
DESCRIPTION

Cloud Inventory is a provider of mobile-first inventory solutions, currently doing business on a global scale with thousands of customers across 50 different countries. Cloud Inventory was founded in 1979 and is based in Kansas City, Missouri.

DEAL STATS #
Overall 1 of 1
Sector (Software) 1 of 1
Type (Divestiture) 1 of 1
State (Missouri) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-18 eNSYNC Solutions

Overland Park, Kansas, United States

eNSYNC Solutions, Inc. is a certified software and professional services company provides high quality, integrated supply chain solutions with its family of ScanWorkX mobile software products and support for Microsoft Dynamics and IFS customers.

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