Scottsdale-based workplace technology company Cloverleaf Networks says its acquisition of Ryver, a software company from the same Valley city, gives it a top-to-bottom stack of business connectivity offerings for its customers.
Ryver produces a workplace collaboration app to manage team communication, task management and workflow automation in a single place. The company’s website presents its app as a challenger to other tools such as Slack or Trello.
The deal was an all-cash transaction and terms were not disclosed. Cloverleaf is now the 100% owner as a result.
Cloverleaf said its connectivity offerings were already powerful but that it spent considerable effort to find an addition. The company said the new platform will allow IT managers to save money and time by having simpler control of their online systems through a single company.
"Cloverleaf is already helping companies operate more profitably with our connectivity aggregation platform (CLOĒ) ending the nightmare of providing, managing, and securing multi-office internet services,” Cloverleaf Networks CEO Joe Faherty said in a statement. “Ryver lets remote teams work like they are in one building and control systems like they were on-site.”
With the companies combined, Cloverleaf said its development team is working to enhance internet of things and artificial intelligence functionality for workgroups to extend remote systems control capabilities. These are the things being requested by the company’s users in the technology, academic, hospitality and other industries, it said.
The company also said it is working now to enhance the newly acquired platform and then will release a new version with added functionality.
Combined with Ryver, Cloverleaf now has 12 employees and plans to double that in 2023.
Ryver was launched by Valley serial entrepreneur Pat Sullivan, initially as a cloud-based software-as-a-service company called Contatta in 2013. The company and its name changed to Ryver in 2015, when it also launched its public beta version with the goal of making team communication more effective than email or instant messages — aiming at small- to mid-sized companies.
