UTAH M&A NEWS: Two Utah Firms Acquire Other Companies; and Three Utah Firms are Acquired
Two Weeks after Raising $20 Million, Udo Acquires Smile Virtual
Farmington, Utah-based Udo announced last week that it has acquired Phoenix, Arizona-based Smile Virtual.
Although Udo did not disclose the financial terms of this acquisition, it did, in fact, announce just two weeks earlier that it had raised $20 million in private financing.
The company's Udo Care app is a mobile telehealth platform designed to help patients, caregivers/family members, and healthcare providers and professionals to "ensure better patient outcomes."
With the acquistion, Udo expects to move aggressively into the Dentistry marketplace bringing both dental professionals and patients together virtually.
NetDocuments Acquires Afterpattern
Salt Lake City-based NetDocuments announced last week that it has acquired Brooklyn, New York-based Afterpattern. Financial terms of the acquisition were not disclosed.
Founded in 1999, NetDocuments describes itself as being "the legal industry’s most trusted cloud-based content services and productivity platform."
With the acquistion of Afterpattern, NetDocuments intends to enable attorneys to "... build more automation into their legal workflows –– from making requests, to capturing data, to generating complex sets of documents."
Dwelo has been Acquired by California-based Level Home
Redwood City, California-based Level Home has swooped in and acquired Draper, Utah-based Dwelo. Financial terms of the acquisition were not disclosed.
Dwelo is a "... leading provider of SaaS-based smart device management platforms for multifamily properties," and back in August it announced that Dwelo has partnered with Vivint to take over management of its multifamily customers.
Dwelo currently manages over 500,000 "doors" for owners and developers of multifamily properties with its smart device management platform.
The Summit Group Communications has been Acquired by Parpia Global Management
One of Utah's oldest independent advertising and public relations agencies, Salt Lake City-based The Summit Group Communications, has been acquired by Parpia Global Management. Financial terms of the acquisition were not disclosed.
Dubai, U.A.E.- and Leicester, England-based Parpia Global describes itself as a "digital marketing agency" that provides services ranging from consulting to web design.
Founded in 1982, Summit Group is probably best known for its work of over 25 years with Subway restaurants. In fact, at one time, Summit Group was the Agency-of-Record for over 30 different regional Subway markets across the United States, representing over 4,100 restaurant locations.
Dentist Direct has been Acquired by Renaissance Life & Health Insurance
Bountiful, Utah-based Dentist Direct (and its affiliate, Direct Access) have been acquired by Indianapolis, Indiana-based Renaissance Life & Health Insurance Company of America. Financial terms of the acquisition were not disclosed.
Dentist Direct is a dental benefits company with more than 60,000 members nationwide, while Direct Access is a discount dental plan provider.
According to Robert Mulligan, President and Chief Executive Officer of Renaissance, the acquisition is important because "... it broadens our geographic presence in the western U.S. (and) augments our dental network ...."
AUTHOR'S NOTE: Twice monthly we group together information about mergers and acquisitions by (and of) Utah-based organizations into one combined story under the banner of M&A NEWS.
These brief write-ups focus on transactions where financial terms are not disclosed; as such, the articles are designed to help keep you, our readers, informed of relevant news and activities in the business community of Utah regardless of the level of disclosure (or lack thereof).