With the acquisition, first responder-focused software company Adashi will remain a standalone brand, and all 16 members of its team will remain onboard. Terms of the deal were not disclosed.
Adashi, which is based out of Baltimore incubator ETC (Emerging Technology Centers), provides software to public safety agencies that are designed for first responders. This includes products that help first responders during incidents, as well as scheduling and workforce management. It counts more than 1,500 police and fire agencies as customers around the world. In a particularly harrowing example, its software was used in last year’s wildfires in Australia.
Versaterm, based in Ottawa, Canada, is a 40-year-old company that provides software across North America to more than 65,000 police, fire and EMS agencies. Backed by a late 2020 investment from San Francisco-based Banneker Partners, it makes computer-aided dispatch (CAD) systems, records management systems and mobility solutions. This could be the first of multiple acquisitions, the company said.
“We’re excited to welcome team Adashi to the Versaterm family,” said Warren Loomis, CEO of Versaterm, in a statement. “This acquisition not only enables us to enhance the utility of our CAD platform but also expand Adashi’s market access and penetration. Our success has always been built on a relentless commitment to customer satisfaction, and the addition of Adashi’s solutions will deepen the value we provide to those sworn to serve.”
Adashi CEO Alex Menkes said the acquisition comes amid rising demand in the public safety market. The company expects to at least double its revenue in 2021 over last year. With Versaterm, the company will be able to expand its resources to meet that demand, while keeping its plans for growth in place.
“Versaterm prioritizes its customer relationships to the point that in the past 30 years, they’ve never lost a customer,” Menkes told Technical.ly. “We cannot make that claim, but see that as a worthy goal. Both companies share the same core values and have similar company cultures.”
Led by Menkes and company president Sanjay Kalasa, Adashi Systems was founded in 2004 to apply tech to challenges faced by hazmat teams, and expanded to wider public safety offerings. It found a home at ETC, standing as a stalwart member at the East Baltimore tech hub in recent years. Menkes said the team there has been “excellent” along the way. Menkes was also a graduate of Goldman Sachs’ 10,000 Small Businesses program, and the company worked closely with the Baltimore City Fire Department as it sought input for development planning.