Waud Capital Partners-backed CyberGrants LLC has acquired software company JK Group Inc. from Susquehanna Growth Equity for an undisclosed amount. Waud Capital closed its fourth fund earlier in 2016.
JK Group, based in Princeton, New Jersey, provides software services that are used in employee giving, volunteering and disaster relief. The company works with Fortune 1000 business organizations. Susquehanna invested in JK 2010. CyberGrants claims the purchase will make it the world’s largest single platform provider of grants management and employee engagement software.
CyberGrants, located in Andover, Massachusetts, offers software that is used to process grants, donations, and volunteer hours. Some of its clients include McDonald’s Corp. (NYSE: MCD), Pfizer Inc. (NYSE: PFE) and Starbucks Corp. (Nasdaq: SBUX).
“This merger will allow us to further invest in technology and R&D to better meet our clients’ growing needs,” says CyberGrants CEO Mark Layden, who will lead the combined company. JK Group CEO Robert Farina announced plans to resign from the company to pursue other interests.
There has been healthy deal activity among software providers recently. Oracle Corp. (NYSE: ORCL) said it will buy utilities software company Opower Inc. (NYSE: OPWR) and Warburg Pincus has acquired a majority stake in DocuTap. The latter distributes software to more than 1,300 urgent-care and on-demand primary-care clinics. For more on M&A deal flow in the cloud space, see Cloud-Computing will Keep the Deals Coming.