STAMFORD, Conn.--(BUSINESS WIRE)--XLerant, Inc., a leading provider of cloud-based budgeting, forecasting and reporting software solutions, is pleased to announce that substantially all of its assets (“XLerant”) have been acquired by Jonas Software USA LLC, an affiliate of Gary Jonas Computing Ltd. (“Jonas”), a Canadian-headquartered company that operates more than 75 independently managed software brands. XLerant’s flagship product, BudgetPak, is designed to facilitate collaborative, decentralized budgeting and has been recognized for outstanding usability, quick implementation and exceptional support.
“We are very excited about the acquisition of XLerant,” said Mike Korbel, General Manager for Jonas’ portfolio companies. “With a strong customer base in the higher education, business services and nonprofit sectors, XLerant is a great addition to Jonas’ portfolio.”
Joanne E. Brunn, CEO of XLerant, said, “We are very pleased to be acquired and join the Jonas family. 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. We look forward to this next chapter and the opportunity to help our customers achieve their goals.”
This acquisition transitions XLerant, which was founded in 2008, from a venture-backed start-up to a wholly owned distinct company. XLerant continues to operate out of its headquarters based in Stamford, CT. Jonas operates with a decentralized model, pushing decision making down to the front lines, where the people who know the industry and products best can do what is right for clients. The XLerant team, including its leadership, has joined Jonas and XLerant will draw upon the added support and resources of the Jonas group. “Jonas has a buy and hold strategy,” says Korbel. “We believe in retaining and growing the organizations we invest in over the long term.”
About XLerant: XLerant provides cloud-based budgeting, forecasting and reporting solutions designed with easy to use interfaces. XLerant’s software-as-a-service (SaaS) solutions serve small to mid-size enterprises that value collaborative environments as an effective way to engage employees and achieve their strategic objectives.
About Jonas Software: Jonas Software operates over 75 independently managed software brands around the world, providing them with the strategic guidance and financial security required to be leaders in their respective markets. From its roots formed in the construction and club management markets, Jonas Software’s reach has grown extensively within the fitness, membership, hospitality and industrial verticals. Today, Jonas Software is proud to supply industry leading enterprise management software and related services to more than 70,000 customers in 20 vertical markets.