Austin's Upland Software buys New Jersey company

Nov 8, 2013
Austin Business Journal

Upland Software Inc. has acquired New Jersey-based business management software maker ComSci Inc.


The acquisition is the eighth completed by affiliates of the Austin-based Silverback Enterprise Group Inc. since the company launched in 2010, six of which have now been combined to form Upland Software. ComSci’s management, development, marketing, sales and client support teams will operate as part of Upland Software, CEO Jack McDonald said Thursday


In October, Silverback Enterprise Group bought Massachusetts-based data management software maker Kalido Inc. Kalido, founded in 1997, employs 100 and operates as its own brand


Silverback previously rolled up five software companies with the financial backing of Austin Ventures LP under the Upland Software brand that has 250 employees


In June, Silverback acquired Washington State-based business intelligence software maker Noetix Corp. for an undisclosed amount. Noetix, which was founded in 1996, employs 150 workers


In late 2010, Silverback reported receiving $11.5 million from 14 investors one week after announcing its formation


Roll-up deals are a less risky approach to investing than startups and Austin Ventures has been backing such deals more frequently in recent years. In July, General Partner Chris Pacitti said the firm’s portfolio now consists of one-fourth roll-up companies


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