XLerant Inc., a provider of cloud-based budgeting, forecasting and reporting software products in Stamford, announced that substantially all of its assets have been acquired by Jonas Software USA LLC for an undisclosed amount.
The acquisition transitions XLerant from a venture-backed startup to a wholly owned distinct company. XLerant employees and leadership will continue to operate out of its Stamford headquarters at 500 Summer St.
“This acquisition provides us with an amazing opportunity to expand and execute on our vision – to help organizations easily and effectively engage their employees in budgeting for a more accurate bottom line,” said XLerant CEO Joanne Brunn. “We look forward to this next chapter and the opportunity to help our customers achieve their goals.”
Jonas is an affiliate of Gary Jonas Computing Ltd., a Canadian-headquartered company that operates more than 75 independently managed software brands.
“Jonas has a buy and hold strategy,” said Mike Korbel, general manager for Jonas’ portfolio companies. “We believe in retaining and growing the organizations we invest in over the long term.”