Daxko Acquires NetVentures Corporation
Daxko announced today that it has completed the acquisition of NetVentures Corporation, a provider of Software-as-a-Service solutions for YMCAs and Jewish Community Centers.
The combined business results in Daxko handling the enterprise software needs for over 600 member-based organizations, including YMCAs and JCCs in all 50 states. Daxko's customers and the YMCA and JCC Movements as a whole will benefit in terms of data access, benchmarking, and sharing of best practices.
"We are excited to partner with the 200 additional customers in communities across the country that join us as part of this acquisition," stated David Gray, Daxko's President and CEO. "We are eager to partner with these organizations to help them more effectively execute on their mission and deliver an exceptional experience to their members."
"I'm extremely proud of the team and products we created at NetVentures over the past 12 years, and I'll always treasure the relationships we built with our customers," said Kevin Bloomfield, NetVentures' Founder and CEO. "We believe that bringing our products and customers together with Daxko will strengthen the capabilities and opportunities across the YMCA and JCC Movements."
Daxko has acquired the technology, customer base, and will retain several key team members in development and customer support. The business unit will operate largely autonomously, led by Matt Popinski, Daxko's current Director of Support.
Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies in North America. Pamlico Capital seeks control-oriented growth equity investments of up to $200 million alongside founders and proven leaders in its target industries: communications, healthcare, services and software. The firm, based in Charlotte, NC, has assets under management of approximately $4 billion. For additional information, please visit www.pamlicocapital.com.