Cherry Tree Advises Next Chapter Technology on its Sale to Banyan Software

Banyan Software Announces Acquisition of Next Chapter Technology

ATLANTAJuly 14, 2021 /PRNewswire/ — Banyan Software, Inc., a company focused on acquiring, building and growing great enterprise software businesses, is pleased to announce the acquisition of Next Chapter Technology, a company that provides document and forms management software to county governments.

Headquartered in Eden Prairie, Minnesota, Next Chapter has lightened the workload and increased productivity for county Health and Human Services departments across the state of Minnesota with CaseWorks, its purpose-built Electronic Document Management System (EDMS). Since 2008, CaseWorks has helped a growing number of counties smoothly transition to a more efficient paperless system and streamline their entire workflow.

“Next Chapter has built a phenomenal product and forged excellent customer relationships by focusing on the unique needs of its county government customer base,” says David Berkal, CEO, Banyan Software. “We are very pleased to welcome Next Chapter to the Banyan family of companies and look forward to continuing to invest in the company and it’s unique set of products.”

“We are excited to partner with Banyan to continue building our legacy and supporting our customers,” says Vaughn Mulcrone, Founder of NextChapter. “As we look towards the future, we know that Banyan shares our vision of continuing to grow the product within Minnesota and beyond.”

About Next Chapter Technology

Founded in 2008, Next Chapter automates the deployment and support of electronic document management solutions. Next Chapter has six software editions that are integrated with critical data applications and specifically tailored to caseworkers within county health and human services departments. For more information, please visit:

About Banyan

Banyan Software acquires, builds and grows great enterprise software businesses. With a permanent capital base, Banyan focuses on a buy and hold for life strategy for growing software companies that serve specialized markets. Founded in 2016, Banyan is backed by a world-class group of CEOs and investors with deep technology experience and currently operates across a number of growing verticals including healthcare, education, media, transportation, and financial services. For more information, please visit:

SOURCE: Banyan Software, Inc.

Cautionary note regarding forward-looking statements.

This announcement includes forward-looking statements. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements. Such statements are based on current expectations, and actual results may differ materially. The forward-looking statements in this announcement are subject to a number of risks and uncertainties including, but not limited to, the possibility of continuing operating losses, the ability to adapt to rapid technological change, cost and difficulties we may face in integrating the businesses of XATA and GeoLogic Solutions, dependence on positioning systems and communication networks owned and controlled by others, the receipt and fulfillment of new orders for current products, the timely introduction and market acceptance of new products, the ability to fund future research and development activities, the ability to establish and maintain strategic partner relationships, and the other factors discussed under “Risk Factors” in Part IA, Item 1 of our Annual Report on Form 10-K for the fiscal year ended September 30, 2008 (as updated in our subsequent reports filed with the SEC). These reports are available under the “Investors” section of our Web site at and through the SEC Web site at Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update them in light of new information or future events.

Cherry Tree & Associates provides investment banking services through our FINRA-licensed broker dealer.