There’s rarely a dull moment in tech — and acquisitions are a major player in keeping things spicy.
Whether it’s companies banding together to improve on their strengths, or a smaller companies being absorbed into larger ventures, you certainly can’t say things are boring around here. In October alone, six Austin tech companies either were acquired or went and did some acquiring themselves. Get the details below.
New Jersey’s Cognizant acquires Austin’s Softvision
App developer Softvision has called Austin home since it was founded in 1994. Now, New Jersey-based IT provider Cognizant Technology Solutions is set to acquire the company for a reported $550 million. The deal, which will close by year’s end, will see Softvision maintain its existing structure and leadership. Cognizant, meanwhile, is on a veritable spending spree: This is the company’s third acquisition of 2018. [Statesman]
Austin’s Luminex buys medical detection systems for $75M
Late this month, Austin’s Luminex, a medical diagnostics firm, announced plans to expand not by acquiring a company, but a company’s proprietary information. For $75 million, Luminex will receive cryometry assets from MilliporeSigma, a company based in Massachusetts. Specifically, the technology exchanged will help Luminex more keenly identify the characteristics of a particular fluid. [Statesman]
Kony acquires innovation branch of Portland company
Kony, a mobile developer headquartered in Austin, announced just earlier this week that they had acquired Pivotus, Inc. The latter company is actually an innovation-focused branch of Portland, Oregon’s Umpqua Holdings Corporation. Kony’s acquisition of Pivotus will inform its creation of digital banking applications, including projects it is currently working on with Umpqua. [Global News Wire]
Cincinnati firm purchases Glenmount Global Solutions
Early this month, Cincinnati, Ohio-based manufacturing company E-Tech announced they had acquired Austin, Texas-based Glenmount Global Solutions. Terms of the deal were not disclosed to the public, but the company did state that the brands will continue operating individually, while E-Tech’s offices will serve as a central hub. This acquisition more than doubles E-Tech’s headcount, with 181 individuals from Glenmount Global Solutions pushing the new company total to 300. [Cincinnati Business Journal]
Upland Software acquires U.K. firm for $65M
The British are coming (to Austin). Late last week, local firm Upland Software announced it had acquired U.K-based mobile marketing company Rant & Rave in a deal valued at $65 million. “Rant & Rave broadens our product portfolio, adds an established sales channel for Upland messaging solutions in Europe and enables Upland to drive sales of Rant & Rave solutions in the United States,” said Upland Software CEO Jack McDonald in a statement to the Statesman. [Statesman]
Ojo Labs continues expansion, merges with WolfNet Technologies
Austin’s Ojo Labs is on the fast track to becoming a household name. The AI firm has already raised $26 million since its 2015 launch and, earlier this month, announced its first major acquisition in the form of WolfNet Technologies. The St. Paul, Minnesota-based company is among the biggest real estate data firms out there, and will add well over 200 employees to Ojo Labs’ headcount. The companies will continue to operate in their respective markets, with Ojo’s Austin office serving as HQ. [Silicon Hills News]
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