ProfitOptics, a Glen Allen business software company, has been acquired by Philadelphia venture capital firm Renovus Capital Partners.
Terms of the deal were not disclosed.
The Richmond-area company offers a customizable analytics software platform that processes data into prioritized and actionable information for things like customer relationship management, e-commerce sites, ordering portals and other technology services. ProfitOptics says its products have generated more than $1.1 billion in profits for its clients since its inception in 2008.
ProfitOptics did not immediately return a request for comment on the deal.
In a statement, ProfitOptics CEO and founder Tony Pericle said the acquisition positions his company to “execute our growth initiatives,” including recruitment of developers, bolstering its business development team and increasing the adoption of the company’s software products. Renovus said in its release the deal would allow ProfitOptics to develop new technology…
Read the full story from the Washington Business Journal.
