YourMembership.com (YM), a portfolio company of The Riverside Company, has acquired Digital Ignite, a provider of SaaS-based learning management software.
Digital Ignite’s products are designed for use by member-based organizations and other groups. The company’s core product, Crowd Wisdom, is a social learning platform that provides community-based knowledge sharing and personalized professional development offerings. Digital Ignite is based in the Chicago suburb of Lombard (www.digitalignite.com).
“Crowd Wisdom is a compelling addition to YM’s comprehensive suite of services to member-based organizations,” said Riverside Managing Partner Loren Schlachet. “Today, YM customers can engage with their members through social, mobile and web channels, delivering more value and improving the user experience.”
The buy of Digital Ignite is the third add-on acquisition completed by YM since being acquired by Riverside in January 2012. The two other add-ons were JobTarget’s Career Center Business Unit (New London, CT) in September 2014 and Affiniscape (Austin, TX) in December 2012.
Digital Ignite’s management team and all of its employees will continue to operate the business as a new division of YourMembership.com.
YourMembership.com is a provider of SaaS-based membership software that has three integrated components – a member website, an online community and membership management software – that allow organizations to capture member data and transform that data into actionable information. The company was founded in 1998 and is headquartered in St. Petersburg, FL (www.YourMembership.com).
The addition of Digital Ignite also improves YM’s ability to deliver training to a wider variety of customers, including associations, publishers, professional education programs and medical education providers. “This addition is wonderful for YM, but current Crowd Wisdom customers will also benefit,” said Riverside Principal Joe Manning. “They can expect a wider array of product offerings and faster enhancements thanks to YM’s broad capabilities and large technology and product development teams.”
Working with Messrs. Schlachet and Manning on the transaction for Riverside were Senior Associate Elaine Ho, Operating Partner John Kish and Finance Director Kim Katzenberger. The transaction was sourced by Principal, Origination Scott Gilbertson.
The Riverside Company acquires businesses that have valuations of up to $250 million. Since its founding in 1988, Riverside has invested in more than 370 transactions and the firm’s international portfolio includes more than 75 companies. Riverside is headquartered in New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (www.riversidecompany.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 1-6-15
