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Here are details on recent mergers and acquisitions that have hit our radar.
ConverseNow, an Austin-based voice AI startup, said May 1 it acquired Denver-based restaurant drive-thru automation startup Valyant AI for an undisclosed amount. The companies said that Valyant's team will be folded into ConverseNow, and that the companies will keep their brand identities. The move is expected to accelerate ConverseNow's growth in the restaurant business. Among Valyant's customers are the Checkers' fast food chain and CKE, which operates Carl's Jr. and Hardee's.
The deal also brings Valyant's generative AI training application, which helps answer questions restaurant staff may have. ConverseNow co-founder and CEO Vinay Shukla said Valyant's tech is a strong match with his company's vision.
"Its expertise and leading position in the drive-thru sector combined with our proven track record in QSR means we can deploy robust, scalable solutions to all sectors of the market at spend and at a highly competitive rate," he stated. "Valyant's patented technology utilizes the latest advancements in AI, and through proprietary hardware and unvaried POS integration, making it a perfect complement to ConverseNow's modern AI stack."
ConverseNow, founded in 2018, has raised $28.3 million from backers including Austin's Bala Investments and LiveOak Ventures, as well as Moneta Ventures, which also has an Austin office.
—Brent Wistrom
Austin investment firm Ignite Cos. purchased a majority stake of local boot company Helm Boots, Stephen P. Schmidt, a reporter at Louisville Business First, reports. In mid-March, Louisville-based Wabi Capital finalized the sale of its 83% share of the upscale Austin-based boot company to Ignite. Details of the deal were not disclosed but Justin Delaney, who serves as one of the firm’s partners, did say that Wabi received an internal rate of return of 8.6%.
Helm Boots was founded in 2009. When Wabi became involved, the company had several other VC investors, including Kendra Scott, the namesake of the Austin-based jewelry brand.
—Stephen Schmidt
Austin-based social media management platform Planoly said April 22 that it is acquiring L.A.-based creator monetization tool Snipfeed for an undisclosed amount. The deal is expected to give users on both platforms more tools to manage social media activities and earn money.
"Social commerce is the future, and this acquisition empowers creators to build thriving businesses directly on the platforms where they connect with their audiences," Planoly CEO Katelyn MacKay stated. "With Snipfeed by our side, we'll be able to accelerate our product roadmap and take creator success to a whole new level."
Planoly was founded in 2016 by Andy Hoang and Brandy Pham. It was acquired by Traject in 2020.
—Brent Wistrom
Austin-based emergency medical services software maker ESO Solutions Inc. said April 18 that it is acquiring Washington-based computer-aided dispatch and EMS billing company Logis Solutions for an undisclosed amount. The companies will share data from dispatch calls and billing systems. As part of the deal, ESO will take on 58 Logis employees who are spread across offices in Washington, Fort Worth, Denmark and the Czech Republic.
"ESO and Logis will deliver a comprehensive set of solutions aimed at improving community health and safety through the power of data," ESO President and CEO Eric Beck stated. "This partnership will scale our mission impact more fully by integrating our products, data and workflows, as well as leverage machine learning and AI to drive further innovation."
ESO, founded in 2004, had raised about $45 million from backers including Accel-KKR, Austin Ventures and Central Texas Angel Network. In 2021, it landed an undisclosed majority stake from Austin-based PE firm Vista Equity Partners.
—Brent Wistrom
Austin-based architecture firm Levy Dykema has merged with another Austin-based architecture firm: Cotera+Reed Architects.
Levy Dykema has offices in both Austin and Corpus Christi, and the Cotera+Reed team will operate under the Levy Dykema brand name at the Levy Dykema office on Congress Avenue, according to an April 3 announcement.
"We are excited to have the legacy of Cotera+Reed Architects become a part of LEVY DYKEMA," stated Stephen Levy, president of Levy Dykema. "I am particularly pleased to have the opportunity to work with Juan Cotera FAIA, Phillip Reed FAIA, and Matt Catterall, who are all highly respected architects and visionary leaders."
Reed added that the merger will allow Cotera+Reed to engage in forward-thinking design at a larger scale than was previously possible.
Financial details of the merger were not disclosed.
—Cody Baird
Local research, media and marketing company The Futurum Group said April 17 that it acquired Florida-based Techstrong Group, which publishes tech sites including DevOps.com, Security Boulevard and Techstrong.ai. Terms of the deal weren't disclosed.
The acquisition includes distribution infrastructure, marketing channels, programs, IP and lead generation engines. Techstrong's content will be distributed by Futurum Group's media division Six Five Media.
“Adding Techstrong Group will immediately expand our scope in distributing research, media, and analysis and support a better understanding of the IT Buyers’ Journey matching vendors and IT leaders,” Daniel Newman, CEO of The Futurum Group, stated.
—Brent Wistrom
