Climb's M&A Weekly: Gravyty, Descartes, and WestView Capital all feature

Gravyty buys Athlete Network and Descartes purchases PackageRoute

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Climb Advisors Weekly
June 29, 2025

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Welcome back to the Climb Advisors weekly newsletter with five deals from across the B2B tech landscape.

Climb Advisors focuses on sell-side advisory for B2B Software and services companies generating $5m-$15m in revenue. We also advise on credit solutions for companies of the same profile & in select cases engage in retained buy-side processes for quality buyers. We love to talk markets and make introductions - please don’t hesitate to reach out if you’re a founder or investor looking to transact.

SPINS, backed by a host of PE funds purchases Datasembly

Overview: SPINS, backed by Webster Capital, Warburg Pincus, and General Atlantic, purchases Datasembly, a consumer packaged goods (CPG) pricing and promotion intelligence platform. SPINS will look to integrate Datasembly's real-time data capabilities with SPINS' existing analytics platform. This delivers a solution in a CPG industry that lacks real-time, store-level pricing data. Read more here.

Climb Comment: SPINS is backed by multiple private equity funds with the goal of providing SPINS the capital to make these acquisitions. The CPG industry is becoming more digitized and there is an increased demand for real-time analytics. Datasembly's solutions also have the ability to personalize pricing and promotion, another highly sought after feature in all industries today. The combined platform will serve its CPG customers with end-to-end market intelligence.

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Descartes Systems Group acquires PackageRoute for $2 million

Overview: Descartes Systems Group, a logistics software provider, purchases PackageRoute, a provider of carrier solutions, for ~$2 million in an all cash deal. PackageRoute looks to simplify and optimize the operations of final-mile carriers. PackageRoute's platform provides real-time package delivery visibility, route optimization, and fleet management capabilities. The acquisition strengthens Descartes' final-mile logistics capabilities as e-commerce delivery demands continue to grow. Read more here.

Climb Comment: At a $2 million purchase price, this is a small but strategic acquisition for Descartes, which has revenues exceeding $500 million annually. PackageRoute specializes in serving subcontracted carriers. This segment has become increasingly important as major carriers rely more heavily on contractor networks to handle deliveries. The acquisition fits Descartes' strategy of building comprehensive logistics solutions that address every stage of the supply chain from routing to final delivery.

Overview: Wolters Kluwer Legal & Regulatory buys Brightflag, an AI-powered legal spend management software provider, for ~ €425 million in an all cash deal. Brightflag's cloud-based legal management platform aims to control legal spend and increase collaboration between corporate legal departments and outside counsel. The acquisition strengthens Wolters Kluwer's presence in the U.S. and Europe. Read more here.

Climb Comment: Wolters Kluwer estimates the acquisition will provide an ROIC greater than its cost of capital of 8% in the fifth year of the acquisition. Brightflag’s revenues are ~95% recurring with the company generating ~€27 million in ARR. Over the past decade, Brightflag has built a strong position in the enterprise legal management market, with nearly 60% of its revenues coming from the US. AI is rapidly changing the legal industry and there has been a flurry of M&A activity recently with firms trying to be at the forefront.

Gravyty acquires Athlete Network

Overview: Gravyty, a provider of AI-powered engagement solutions for higher education, purchases Athlete Network, a company designed to build connections between student athletes and alumni. This deal is another step forward in Gravyty’s goal to have a platform that encompasses an entire student’s journey. Athlete Network is strong in the college athletics space, which is undergoing a transformation with the introduction of NIL a few years ago. Read more here.

Climb Comment: Gravyty plans to integrate its advanced fundraising technology inside Athlete Network’s ecosystem. This deal makes strategic sense because the college athletics fundraising landscape is completely different than it was just five years ago. Now, athletic departments have to raise money to pay players, so Athlete Network’s platform integrated with Gravyty’s donor engagement solutions should fit nicely. Athletic departments face unique dynamics around donor engagement, alumni relations, and corporate sponsorships that require specialized approaches. Gravyty supports over 25 million students and partners with numerous higher education institutions.

WestView Capital Partners buys a majority stake in EyeQ Monitoring

Overview: WestView Capital Partners, acquires a majority stake in EyeQ Monitoring, a provider of live video monitoring and security intelligence. The investment will support EyeQ's expansion of its remote monitoring platform and growth into new commercial markets. EyeQ's solutions combine modern hardware with AI analytics to offer proactive security responses for customers. Read more here.

Climb Comment: The security intelligence agency is heading in the direction of artificial intelligence. EyeQ’s AI solutions allow for cost savings for customers while maintaining 24/7 security on commercial properties with actionable insights. EyeQ focuses on delivering a cloud-based centralized and automated security framework. This acquisition expands WestView’s next-generation analytics and business intelligence capabilities. 

Article of the week

Article this week is a very interesting podcast about the current relationship between the US and China.

Thanks for following along & hope you found something useful or interesting. Please don’t hesitate to reach out if you’re considering a sale this year - we’re always glad to chat & share perspective.

All the best,

Nick

Nick Cellura

Principal, Climb Advisors

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