Fishbowl Acquired by Diversis Capital Management
Orem-based Fishbowl, makers of inventory and warehouse management software, have announced their acquisition by Diversis Capital Management of Los Angeles, California. The private equity firm focuses on software and technology-enabled services. Details of the acquisition were undisclosed. The acquisition is part of a broader trend of inventory management automation acquisitions, including Locate Inventory (acquired Nov 2021), Neto (acquired May 2021), DEAR (acquired Feb 2021), Unleashed Software (acquired Nov 2020), and more.
Fishbowl touts itself as the number one requested automation solution for Quickbooks users. The twenty year old Orem company has over 200 employees.
John David King, CEO of Fishbowl, said, "While we were not actively seeking to sell the company we were approached by Diversis and were impressed by their team's knowledge of our business and enthusiasm to invest in our products, our team, and our customers to bring our solutions to more companies around the globe. This transaction is a great validation of our people, platform and market leadership and will help us accelerate product investment to meet growing customer demands."
“This change will enable us to offer our customers more. More features, more products, and more improvements,” said the announcement on Fishbowl’s twitter account.
Core Fishbowl products include Fishbowl Warehouse, Fishbowl Manufacturing, and Fishbowl Online. Fishbowl Warehouse helps automate order creation, control inventory flow, manage multiple warehouses. Fishbowl Manufacturing provides complete manufacturing inventory management to increase efficiency in the production process. Fishbowl Online inventory management software offers stock alerts, reordering, and other tools to maximize production efficiency. Fishbowl also offers a remote server-hosting solution allowing users to view inventory data from any location.
Diversis Co-Founder and Managing Partner, Ron Nayot, said, "Over the past 20 years, the team has built Fishbowl into a leading provider of inventory management software and we are anxious to further build the manufacturing and warehouse businesses. We also see significant opportunities to build Fishbowl internationally by accelerating the launch of new SaaS product offerings, focusing on e-commerce, and growing the hosting business. In addition, we are actively identifying strategic add-on acquisitions to broaden the product portfolio."