Daxko CEO Dave Gray on his firm’s latest acquisition
Jun 13, 2014
Earlier this week, Daxko acquired Virginia-based NetVentures Corp ., a deal that will add a significant customer base to the company's market. I caught up with Daxko CEO Dave Gray to find out more about the deal, which will give his company an additional 200 clients around the nation. Daxko provides software and support for member-based organizations, including YMCAs. He said that NetVentures, a longtime competitor of Daxko, approached the company in early March to discuss a possible deal. "We've known NetVentures for years and have competed against each other for awhile," he said. "They came to us and made it clear they were willing to be bought when we brought in new private equity partners. "
Gray also said that this purchase was a sign of Daxko's focus toward their growth front, and while he says future transaction aren't certain, they remain likely. The company has expanded several times in recent years and has also made some acquisitions, including Charlotte's Active Life Apps last year.