What still drives value in a software company, what AI changes, and how an owner should decide whether to invest, hold, or sell.

The factors buyers weigh when they value a software company, and what AI changes about each.

Interactive Edge, which automates category management and sales reporting for consumer goods companies, has been acquired by retail analytics provider Nuqleous.

MedStack, whose cloud platform helps digital health companies build and run HIPAA-compliant applications, has been acquired by health technology studio Launchit Solutions.

Heggerty, a leading provider of literacy curricula, has acquired Literably, a research-backed literacy assessment platform.

Wilson Language Training has acquired Acadience Learning, the company founded by the original authors of the DIBELS early literacy assessment.

Foxpass, a provider of cloud-based network and server access security, has been acquired by Splashtop, a portfolio company of Sapphire Ventures and NEA.

Pierre Chamberland, a cybersecurity and legal technology veteran who founded and sold NetGovern, joins 85 Advisors to lead client development and advisory work in Canada.

CloudOps, a cloud consulting, managed services and DevOps company, has been acquired by Aptum, a portfolio company of DigitalBridge.

ClubExpress, whose software runs more than 2,000 clubs and associations, has been acquired by Lumaverse Technologies, a portfolio company of L Squared Capital Partners and PSG.