Four Austin companies involved in merger, acquisition deals
Kara CarlsonA handful of Austin-based companies have been part of merger and acquisition deals in the past few weeks, leading to growth and expanded offerings for the firms involved.
Here's a roundup of some of those agreements:
Austin health firms combine
Austin-based Map Health Management, an addiction treatment company that uses technology and data as part of its peer recovery services, has acquired Austin-based Carmahealth.
Financial terms of the deal were not disclosed.
The acquisition will expand Map Health Management's offerings to include primary medicine, behavioral health and care management, according to the company.
Map Health Management was founded in 2011, and offers peer recovery support services, along with a telehealth platform and data insights, to help patients and their families. Its platform offers a suite of tech-enabled peer support services and outcome reporting.
Austin-based Carmahealth was founded in 2017 and specializes in primary and psychiatric care for people with substance use disorders. It has offices in Texas, Florida and Virginia.
The combined comany will help promote lasting recovery, encourage self-care, improve treatment outcomes and reduce health care costs.
Map Health Management said acquiring Carmahealth will expand its peer-led support capabilities and integrate a suite of medical services that include primary medicine, behavioral health and care management in one place.
"It’s core to our mission to continue to evolve and create the nation’s leading peer-led behavioral health home," Jacob Levenson, founder and CEO of Map Health Management, said in a written statement.
Forcepoint adds to cybersecurity offerings
Austin-based Forcepoint, which makes cybersecurity software, has acquired Britain-based cybersecurity company Deep Secure.
Financial terms of the deal were not disclosed.
Forcepoint makes a cybersecurity platform designed to protect critical data and networks. It uses behavior-based solutions to adapt to security risks in real-time, and protect network users, cloud access, eliminate breaches from insiders, and prevent confidential data from leaving the network.
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Last year, aerospace giant Raytheon Technologies sold Forcepoint to San Francisco-based global investment firm Francisco Partners.
Deep Secure, which is based in Malvern, England, makes cybersecurity products and software designed to protect organizations from malware attacks and prevent data loss.
The companies said they plan to combine their existing teams and technology in the coming weeks. Sean Berg, Forcepoint's president of global governments and critical infrastructure, said Deep Secure's technology will integrate with Forcepoint and allow the combined company to offer more in-depth software to government entities and other customers.
Mobile Tech RX acquired by Plano firm
Austin-based Mobile Tech RX has been acquired by Plano-based asTech, which makes collision diagnostics technology and provides related services.
Financial terms of the deal were not disclosed.
Mobile RX, which was founded in 2014. will continue to operate in Austin following the acquisition. The company said it expects expand its presence in the city under the continued leadership of its current CEO and co-founder, Eric Garves.
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The company makes a platform that allows mobile and shop-based automotive technicians to estimate, invoice and manage collision work and to collect data on the go. The company uses machine learning, including artificial intelligence and computer vision. The company raised $4.2 million from Austin-based Silverton Partners in 2019.
Plano-based asTech makes a platform that proved remote diagnostic tools and services for the collision industry.
The acquisition will allow asTech to expand product offerings and its customer base. Mobile TechRX is currently used by more than 4,000 automotive reconditioning and paintless dent repair businesses and has about 6,000 active technician users.