The highly successful Minnesota mobile startup has been acquired by Newscycle Solutions, a 500-employee Bloomington MN-based firm that “develops and delivers software technology to empower the global news media industry.” DoApp has developed more than 1,500 mobile apps for the news publishing and broadcast industries. All DoApp employees will join Newscycle. The acquisition closed on June 10, 2016; the price was not announced.
DoApp was founded in early 2008 by former Google employee Joe Sriver and a small team. It has been entirely self-funded and profitable for six years. Newscycle Solutions is made up four merged companies and is owned by Vista Equity Partners, based in San Francisco, which was the most active firm in the M&A business last year. (Within the past two weeks alone, it acquired Marketo and Ping Identity, deals valued collectively at $2.4 billion.) Continue reading