Like ASIX, Inc.

closed 2/2/2006 via PR Newswire

Manatron Inc., acquired ASIX, Inc.

synopsis: Manatron, Inc. a leading provider of software products and services for local governments, including the recently introduced Government Revenue Management software, announced it has acquired all of the outstanding stock of ASIX, Inc., a leading-edge software company and information technology consulting firm.
buyer: Manatron Inc.
Manatron provides software and services for state and local governments to completely, fairly and efficiently assess real and personal property, and to bill and collect the related property taxes in their jurisdictions. "
target: ASIX, Inc.
Founded in 1991, ASIX has designed, developed and marketed Ascend(TM), a comprehensive client/server-based assessment administration and property tax billing and collection system that is currently installed in 16 counties in Washington, Oregon, Nevada, Colorado, Minnesota, Missouri and Illinois.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/8/2016 via GlobeNewswire

Aptean, acquired StarDyne GEMS

synopsis: Aptean, a leading provider of mission critical enterprise software solutions, announced the acquisition of the Government & Enterprise Management Solutions (GEMS) Division from StarDyne Technologies. The individual GEMS product lines provide market-leading software and related services primarily in the public sector.
buyer parent: Vista Equity Partners
buyer: Aptean
Aptean is a leading provider of mission critical enterprise software solutions. Their solutions help nearly 5,000 organizations stay at the forefront of their industries by enabling them to operate more efficiently, thereby ensuring higher customer satisfaction. "
target parent: StarDyne Technologies Inc.
target: StarDyne GEMS
StarDyne's Government and Enterprise Management Solutions Division (GEMS) provides industry leading software solutions with advanced integrations to help their clients bring diverse needs together in a logical and stable manner.
price ($mm)
rev ($mm)
EBITDA ($mm)
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closed 3/9/2012 via BusinessWire

Tyler Technologies, Inc., acquired UniFund, LLC

synopsis: Tyler Technologies, Inc. announced that it has acquired UniFund, L.L.C., which provides enterprise resource planning (ERP) solutions to schools and local governments. UniFund, located in Nashua, N.H., is also a reseller of Tyler’s Infinite Visions® school enterprise solution.
buyer: Tyler Technologies, Inc. (TYL:$1,753.59)
Tyler Technologies is a leading provider of end-to-end information management solutions and services for local governments. Tyler partners with clients to empower the public sector to become more efficient, more accessible and more responsive to the needs of citizens. "
target: UniFund, LLC
UniFund, L.L.C. provides enterprise resource planning solutions to schools and local governments. UniFund, located in Nashua, N.H., is also a reseller of Tyler Technologies’ Infinite Visions® school enterprise solution.
price ($mm)[EV]
$5.38 [$6.08]
rev ($mm)
$6
EBITDA ($mm)
EV / rev
1.1x
EV / EBITDA
closed 2/1/2006 via PR Newswire

Tyler Technologies, Inc., acquired TACS, Inc.

synopsis: Tyler Technologies, Inc. announced its completion of the acquisition of TACS, Inc.
buyer: Tyler Technologies, Inc. (TYL:$1,753.59)
Tyler Technologies is a leading provider of end-to-end information management solutions and services for local governments. Tyler partners with clients to enable the public sector–cities, counties, schools and other government entities–to become more efficient, more accessible, and more responsive. "
target: TACS, Inc.
TACS sells pension administration software systems for the public sector. A pioneer in pension fund automation, TACS provides a full suite of pension management and pension self-service applications. TACS was founded over 20 years ago and has approximately 100 customers, primarily in New England.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 12/4/2017 via BNC Analysis

Castleton Technology plc, acquired Kinetic Information Systems Pty Ltd

synopsis: Castleton Technology Plc, a provider of software and managed services to the public and not for profit sectors, has acquired Kinetic Information Systems Pty Ltd, a leading provider of software solutions to the community housing sector in Australia.
buyer: Castleton Technology plc (AIM:CTP:$30.81)
Castleton Technology Plc is a focused provider of Software, IT Solutions and Services to the Social Housing, Commercial and wider Public Sectors. They deliver the resources and capabilities required to create and enable a dynamic, flexible, and secure, seamlessly managed IT infrastructure. "
target: Kinetic Information Systems Pty Ltd
Kinetic Information Systems is an Australian software specialist solution provider. The company provides ERP, business intelligence, and procurement solutions to companies in various industries, including agricultural, automotive, broadcasting, community housing, energy, real estate, and more.
price ($mm)
$1.91
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/6/2014 via Company Press Release

Daxko, acquired NetVentures Corporation

synopsis: Daxko announced that it has completed the acquisition of NetVentures Corporation, a provider of Software-as-a-Service solutions for YMCAs and Jewish Community Centers. NetVenture's technology helps YMCAs, JCCs & YWCAs grow their operations, improve engagement and better serve their communities.
buyer: Daxko
Daxko, Inc. provides software and services to nonprofits in the United States. The company offers operations and accounting software solutions that provide various tools for connections with client’s community. Its solutions include Daxko Operations, Daxko Accounting, and Daxko Reciprocity. "
target: NetVentures Corporation
NetVentures Corporation is a provider of Software-as-a-Service solutions for YMCAs and Jewish Community Centers. Their technology helps YMCAs, JCCs & YWCAs grow their operations, improve engagement and better serve their communities.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/29/2016 via Company Press Release

Bellrock Property & Facilities Management, acquired Concerto Support Services

synopsis: Bellrock, one of the UKs leading Facilities Management (FM) and Property Management (PM) businesses, has acquired Concerto Support Services, a company that provides secure, web based software solutions for asset management, facilities management, project management and business performance management.
buyer: Bellrock Property & Facilities Management
Bellrock provides smart property & facilities management solutions for retail, healthcare, education and corporate clients throughout the UK & Ireland. "
target: Concerto Support Services
The Concerto property asset and project management software suite provides flexible, web based, off-the-shelf solutions for asset, project and facilities management. Aimed at large organisations and departments, Concerto has a user group of over 60 Local Authorities, Universities and more.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 9/23/2011 via Company Press Release

Capita PLC, acquired Cedar HR Software Limited

synopsis: The Capita Group Plc announces that it has acquired Cedar HR Software Limited. Cedar HR combines all the very latest technology and functionality one would expect from a global ERP system, with a number of police-specific requirements. It focuses solely on providing back-office (business support) applications for the UK’s Police Forces.
buyer: Capita PLC (LSE:CPI:$3,080.30)
A leading business process outsourcing firm, Capita operates more than 200 offices in the UK and Ireland. The company's services include such business-related help as customer service, human resource management, and information technology. "
target: Cedar HR Software Limited
Cedar HR combines all the very latest technology and functionality one would expect from a global ERP system, with a number of police-specific requirements. It focuses solely on providing back-office (business support) applications for the UK’s Police Forces.
price ($mm)
$23
rev ($mm)
$10
EBITDA ($mm)
EV / rev
2.4x
EV / EBITDA
closed 11/7/2022 via GlobeNewswire

Volaris Group Inc., acquired Equiplano

synopsis: Volaris Group has announced the acquisition of Equiplano, a provider of public administration software in Paraná, Brazil. Equiplano helps simplify public management with software solutions that support the optimization of public administration and assist local governments in complying with current legislation.
buyer parent: Constellation Software, Inc.
buyer: Volaris Group Inc.
Headquartered in Canada, Volaris acquires, strengthens and grows vertical market technology companies. As an Operating Group of Constellation Software Inc., Volaris is all about strengthening businesses within the markets they compete and enabling them to grow. "
target: Equiplano
Equiplano is a provider of public administration software in Paraná, Brazil. They help simplify public management with software solutions that support the optimization of public administration and assist local governments in complying with current legislation.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 7/27/2022 via PR Newswire

OpenGov, will acquire Cartegraph

synopsis: OpenGov, the leader in modern cloud software for the nation's cities, counties, and state agencies, will acquire Cartegraph, the leader in cloud software for public agency operations and infrastructure asset management. By combing both companies' solutions, OpenGov can more effectively serve the key strategic functions of governments.
buyer: OpenGov
OpenGov is the leader in modern cloud software for city, county, and state agencies. OpenGov serves more than 1,100 agencies across the U.S. and is built exclusively for the unique budgeting, procurement, and citizen services needs of the public sector. "
target: Cartegraph
Cartegraph builds safer, more resilient and sustainable communities through better stewardship of buildings and critical infrastructure. It offers intuitive SaaS solutions that help government agencies, utilities, and educational institutions manage their physical assets and associated operations.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/16/2022 via BNC Analysis

ReadyTech Holdings Limited, acquired IT Vision

synopsis: Publicly listed SaaS provider ReadyTech has acquired IT Vision, who develops Digital Enterprise Solutions for Local Government and similar industries in an effort to boost its position in the local government sector.
buyer: ReadyTech Holdings Limited (ASX:RDY:$34.97)
Based in Australia, ReadyTech is a leading provider of mission-critical SaaS for the education, workforce management, government and justice sectors. ReadyTech creates technology that helps their customers navigate complexity, while also delivering meaningful outcomes. "
target: IT Vision
IT Vision has been developing Digital Enterprise Solutions for Local Government and similar industries. Their fully integrated SynergySoft suite delivers a wide array of modules and features based on the everyday needs of council staff, and their latest addition, Altus, a fully cloud‑based solution.
price ($mm)
$16
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 5/11/2022 via BNC Analysis

Juvare, acquired Crisis Track

synopsis: Juvare, the global leader in critical incident preparedness and response technology, announced that it has acquired disaster assessment and management software provider Crisis Track. Crisis Track is specifically designed to collect damage assessments rapidly and accurately for FEMA’s disaster declaration process.
buyer parent: Rothschild
buyer: Juvare
Juvare is a worldwide leader in emergency preparedness and critical incident management and response software. Juvare solutions empower government agencies, corporations, healthcare facilities, academic institutions, and volunteer organizations to leverage real-time data to manage incidents faster. "
target: Crisis Track
Crisis Track offers the most powerful emergency management solution on the market. Crisis Track is specifically designed to collect damage assessments rapidly and accurately for FEMA’s disaster declaration process.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 4/6/2022 via GlobeNewswire

Vinci Group, acquired TollPlus LLC

synopsis: France-based VINCI Highways, a division of VINCI, has acquired the remaining 70% stake in TollPlus Inc, a software company that specializes in toll road back-office systems and mobility solutions. With this acquisition, VINCI Highways becomes an immediate player in the Electronic Toll Collection (ETC) market.
buyer: Vinci Group (ENXTPA:DG:$54,770.47)
VINCI is a global leader in concessions, energy, and construction, active in nearly 120 countries. VINCI's ambition, in response to the climate emergency, is to accelerate the transformation of living environments, infrastructure and mobility. "
target: TollPlus LLC
TollPlus is a software company that has developed a sophisticated end-to-end toll management solution that is scalable, lightweight, secure, and highly customizable to address the challenges of the Electronic Toll Collection (ETC) market.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 3/25/2022 via PR Newswire

SWVL Inc., will acquire Door2Door

synopsis: Swvl Inc., a global provider of transformative tech-enabled mass transit solutions, will acquire door2door, a German high-growth mobility platform that partners with municipalities, public transit operators, corporations, and automotive companies, providing software for on-demand mobility, multimodal routing and mobility analytics.
buyer: SWVL Inc.
Swvl is a global provider of transformative tech-enabled mass transit solutions, offering intercity, intracity, B2B and Business to Government transportation across 115 cities in 18 countries. "
target: Door2Door
door2door is a German high-growth mobility platform providing software solutions for on-demand shared mobility, multimodal routing and mobility analytics. The company licenses its mobility software to municipalities, mass transit operators, transit agencies, corporations, and automotive companies.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 1/31/2022 via BNC Analysis

Scala Co., Ltd., will acquire Egg Co., Ltd.

synopsis: Scala, a Japanese technology company, will acquire Egg Co., Ltd., a leading IT company in Japan. Egg offers a hometown tax payment solution for local governments. Their system enables governments to automate processes and increase safety, efficiency, and accuracy. They also offer services for software development and web design.
buyer: Scala Co., Ltd. (TSE:4845:$70.52)
Scala is a Japanese company that develops various types of businesses, such as SaaS / ASP (Application Service Provider), Sales Force Automation, field marketing, among others. Scala leverages group synergies to provide a one-stop solution for value creation management and AI / IoT consulting. "
target: Egg Co., Ltd.
Egg Co., Ltd. is a leading IT company in Japan. Egg offers a hometown tax payment solution for local governments. Their system enables governments to automate processes and increase safety, efficiency, and accuracy. They also offer services for software development and web design.
price ($mm)
$7.98
rev ($mm)
$15
EBITDA ($mm)
EV / rev
0.5x
EV / EBITDA
announced 1/17/2022 via BNC Analysis

Atlantia S.p.A., will acquire Yunex Traffic

synopsis: Atlantia, an Italy-based holding company, will acquire Yunex Traffic from Siemens, a global technology company. Yunex Traffic is a global leader in traffic solutions. Yunex Traffic develops solutions for cities, highway authorities and mobility providers. They offer solutions for traffic management, traffic simulation, tunnel management, and more.
buyer: Atlantia S.p.A. (BIT:ATL:$6,784.65)
Atlantia S.p.A. is an Italy-based holding company operating in the field of infrastructures in Italy, Brazil, Chile, India and Poland. Through its subsidiaries, Atlantia S.p.A. offers integrated solutions in the field of engineering, construction and maintenance of highway and airports. "
target parent: Siemens AG
target: Yunex Traffic
Yunex Traffic is a global leader in intelligent traffic solutions. Yunex Traffic develops novel mobility options for cities, highway authorities and mobility providers. They offer solutions for traffic management, traffic simulation, tunnel management, and more.
price ($mm)
$1,078
rev ($mm)
$721
EBITDA ($mm)
$61
EV / rev
1.5x
EV / EBITDA
17.6x
closed 12/8/2021 via BusinessWire

Zencity, acquired Civil Space

synopsis: Zencity, the leading global community engagement technology platform for local governments, has acquired cutting edge digital engagement startup Civil Space. Headquartered in Vancouver, Civil Space is a digital engagement platform for communities and their leaders to co-create sustainable futures together.
buyer: Zencity
Zencity is a community insights and analytics platform in Israel. Zencity provides actionable data to local government leaders about their residents’ needs and priorities. The platform provides insights from anonymized and aggregated data points alongside community-based polling. "
target parent: Domain7 Solutions
target: Civil Space
Canada-based Civil Space is a digital engagement platform for communities and their leaders to co-create sustainable futures together. Using Civil Space, local government leaders can surface real needs, understand diverse citizen priorities and collaborate on key initiatives.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 12/3/2021 via Company Press Release

Carlyle Group, will acquire Client Network Services, Inc.

synopsis: The Carlyle Group, a global investment firm, has agreed to buy Client Network Services, Inc. (CNSI), a Virginia-based manager of IT systems for state and federal agencies, from Alvarez & Marsal Capital Partners.
buyer: Carlyle Group (CG:$5,531.80)
Carlyle is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit, and Investment Solutions. Carlyle’s purpose is to invest wisely and create value on behalf of its investors and portfolio companies. "
target parent: Alvarez & Marsal
target: Client Network Services, Inc.
CNSI ("Client Network Services, Inc.") delivers a broad range of health information technology enterprise solutions and customizable products to a diverse base of State and Federal agencies in the United States.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 9/15/2021 via Company Press Release

Orell Füssli AG, acquired Procivis

synopsis: Orell Füssli Ltd acquires majority stake in technology company Procivis Ltd. Procivis AG, founded in Zurich in 2016, is a leading Swiss provider of technology solutions for the digitization of services in the public sector. rocivis offers a secure electronic identity platform, called “eID+”.
buyer: Orell Füssli AG (SWX:OFN:$228.91)
As an expert in security solutions for the state and citizens and as a leading Swiss company in the book trade, Orell Füssli supports its customers with a unique and customer-specific offer. Orell Füssli is a leading system provider for security technologies and identification systems. "
target: Procivis
Procivis AG, founded in Zurich in 2016, is a leading Swiss provider of technology solutions for the digitization of services in the public sector. Procivis offers a secure electronic identity platform, called “eID+”, which provides citizens with digital access to governmental and private services.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/5/2021 via PR Newswire

Onboard Meetings, acquired eScribe Software Ltd.

synopsis: OnBoard has acquired Ontario-based eSCRIBE Software Ltd., the leading cloud-based governance and meeting management solution for public sector boards, committees, and councils. The acquisition extends OnBoard's market reach for empowering boards and committees across Canada and strengthens eSCRIBE's presence within the United States.
buyer: Onboard Meetings
OnBoard is the leading provider of intelligent board management software for high-performing boards. The company's platform is designed to address real-world needs and reduce complexity so that boards and leadership teams can work smarter and move faster. "
target: eScribe Software Ltd.
Based in Ontario, eSCRIBE is a leading provider of cloud-based meeting management solutions, and the go-to-choice for public sector boards, committees, and councils. eSCRIBE supports the entire meeting lifecycle with comprehensive tools and workflows to improve efficiency and transparency.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 2/2/2006 via PR Newswire

Manatron Inc., acquired ASIX, Inc.

synopsis: Manatron, Inc. a leading provider of software products and services for local governments, including the recently introduced Government Revenue Management software, announced it has acquired all of the outstanding stock of ASIX, Inc., a leading-edge software company and information technology consulting firm.
buyer: Manatron Inc.
Manatron provides software and services for state and local governments to completely, fairly and efficiently assess real and personal property, and to bill and collect the related property taxes in their jurisdictions. "
target: ASIX, Inc.
Founded in 1991, ASIX has designed, developed and marketed Ascend(TM), a comprehensive client/server-based assessment administration and property tax billing and collection system that is currently installed in 16 counties in Washington, Oregon, Nevada, Colorado, Minnesota, Missouri and Illinois.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 7/19/2011 via Market Wire

Thomson Reuters, acquired Manatron Inc.

synopsis: Thomson Reuters has officially acquired Manatron following regulatory clearance in the U.S. and Ukraine. Manatron is a provider of property tax automation and land registry software for governments and municipalities around the world, and was acquired from Thoma Bravo LLC, a private equity firm.
buyer: Thomson Reuters (TRI:$6,348.00)
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. It combines industry expertise with innovative technology to deliver critical information to leading decision makers. "
target parent: Thoma Bravo, LLC
target: Manatron Inc.
Manatron Inc. provides software and services for governments worldwide to completely, fairly and efficiently assess real and personal property, and to bill and collect the related property taxes in their jurisdictions.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/10/2011 via PR Newswire

Manatron Inc., acquired International Land Systems, Inc.

synopsis: Manatron, Inc. has announced that it has acquired International Land Systems (ILS), Inc. ILS provides land management and land administration software systems and professional services to government clients in the U.S. and internationally, as well as private sector and non-governmental organization (NGO) clients worldwide.
buyer parent: Thoma Bravo, LLC
buyer: Manatron Inc.
Manatron, Inc. provides software and services for state and local governments to completely, fairly and efficiently assess real and personal property, and to bill and collect the related property taxes in their jurisdictions. "
target: International Land Systems, Inc.
International Land Systems, Inc. provides land management and land administration software systems and professional services to government clients in the U.S. and internationally, as well as private sector and non-governmental organization (NGO) clients worldwide.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 7/6/2010 via PR Newswire

Manatron Inc., acquired Beyond Appraisal, Inc.

synopsis: Manatron, Inc., a global leader in integrated property tax and records management software for state and local governments has announced its acquisition of Grapevine, Texas-based Beyond Appraisal. Terms of the acquisition were not disclosed.
buyer parent: Thoma Bravo, LLC
buyer: Manatron Inc.
Manatron provides software and services for state and local governments to completely, fairly and efficiently assess real and personal property, and to bill and collect the related property taxes in their jurisdictions. "
target: Beyond Appraisal, Inc.
Beyond Appraisal, Inc. develops, sells, and supports computer-aided mass appraisal technologies and other related products and services to government property tax assessment organizations, state and local government agencies and commercial property appraisal companies.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/21/2009 via BusinessWire

Manatron Inc., acquired Software Techniques, Inc.

synopsis: Manatron, Inc. (Manatron), the nation’s leading provider of integrated, enterprise-level property solutions for state and local governments, has acquired Software Techniques, Inc. (STI), a leading supplier of computer assisted mass appraisal (CAMA) software to government property appraisal districts.
buyer parent: Thoma Bravo, LLC
buyer: Manatron Inc.
Manatron provides software and services for state and local governments to completely, fairly and efficiently assess real and personal property, and to bill and collect the related property taxes in their jurisdictions. "
target: Software Techniques, Inc.
Founded in 1987, Software Techniques, Inc. (STI) is a premier provider of computer assisted mass appraisal (CAMA) software to government property appraisers. The company's solutions determine property value for taxation purposes.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 4/2/2008 via BusinessWire

Thoma Cressey Bravo, acquired Manatron Inc.

synopsis: Thoma Cressey Bravo, a leading private equity investment firm, has acquired Manatron, Inc. a leading provider of integrated, enterprise-level property tax solutions for state and local governments, in a transaction valued at approximately $66 million.
buyer: Thoma Cressey Bravo
Thoma Bravo is one of the most experienced and successful private equity firms in the United States. Thoma Bravo and its predecessor firms have been providing equity and strategic and operating support to promising businesses and their management teams for more than 25 years. "
target: Manatron Inc.
Manatron provides software and services for state and local governments to completely, fairly and efficiently assess real and personal property, and to bill and collect the related property taxes in their jurisdictions.
price ($mm)[EV]
$61 [$65]
rev ($mm)
$43
EBITDA ($mm)
$5
EV / rev
1.6x
EV / EBITDA
15.4x
closed 9/28/2007 via

Manatron Inc., acquired Hart InterCivic

synopsis: Manatron, Inc. the nation's leading provider of integrated property tax solutions for state and local governments, has entered into an asset purchase agreement with Hart InterCivic, Inc., an Austin, Texas-based provider of Election solutions, Records Management solutions, Geo-content solutions and Print solutions for state and local governments.
buyer: Manatron Inc.
Manatron provides software and services for state and local governments to completely, fairly and efficiently assess real and personal property, and to bill and collect the related property taxes in their jurisdictions. "
target: Hart InterCivic
Hart InterCivic is a leader in providing products and services that help redefine the relationship between state and local governments and the citizens they serve. Hart InterCivic is working in more than a dozen states to bring governments closer to citizens.
price ($mm)
$4.80
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 2/2/2006 via PR Newswire

Manatron Inc., acquired ASIX, Inc.

synopsis: Manatron, Inc. a leading provider of software products and services for local governments, including the recently introduced Government Revenue Management software, announced it has acquired all of the outstanding stock of ASIX, Inc., a leading-edge software company and information technology consulting firm.
buyer: Manatron Inc.
Manatron provides software and services for state and local governments to completely, fairly and efficiently assess real and personal property, and to bill and collect the related property taxes in their jurisdictions. "
target: ASIX, Inc.
Founded in 1991, ASIX has designed, developed and marketed Ascend(TM), a comprehensive client/server-based assessment administration and property tax billing and collection system that is currently installed in 16 counties in Washington, Oregon, Nevada, Colorado, Minnesota, Missouri and Illinois.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 11/3/2005 via PR Newswire

Manatron Inc., acquired Plexis Group

synopsis: Manatron, Inc. a leading provider of software products and services for local governments, including its recently introduced Government Revenue Management platform, today announced that it has acquired substantially all of the assets of Plexis Group, LLC and assumed the obligations of its current software, support and service contracts.
buyer: Manatron Inc.
Manatron provides software and services for state and local governments to completely, fairly and efficiently assess real and personal property, and to bill and collect the related property taxes in their jurisdictions. "
target: Plexis Group
The diverse staff of Plexis Group has been providing Geographic Information System (GIS) since the mid-1980's and Computer Assisted Mass Appraisal (CAMA) technology services since 1999.
price ($mm)
$1.00
rev ($mm)
$1
EBITDA ($mm)
EV / rev
1.0x
EV / EBITDA
closed 5/9/2003 via

synopsis: --Indianapolis-based Plexis Group finalized its purchase of ecama(TM) from Michigan-based Resource Information Associates (RIA). ecama is revolutionary tax-assessment software designed to make tax assessment easier, more accurate and more affordable. In its ongoing partnership, Plexis Group utilized RIA's programmers to develop ecama.
buyer parent: Manatron Inc.
buyer: Plexis Group
The diverse staff of Plexis Group has been providing Geographic Information System (GIS) since the mid-1980's and Computer Assisted Mass Appraisal (CAMA) technology services since 1999. "
seller:
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 4/1/2020 via BusinessWire

Francisco Partners Management LLC, acquired Smith Technologies

synopsis: Francisco Partners has acquired Smith Technologies, a subsidiary of J M Smith Corporation. Smith Technologies® is comprised of products and services from the QS/1, Integra, LTC and PUBLIQ Software brands. QS/1 designs, builds, and supports industry-leading retail pharmacy management systems. The company will be rebranded as RedSail Technologies
buyer: Francisco Partners Management LLC
Francisco Partners is a leading global private equity firm that specializes in investments in technology and technology-enabled businesses. They have invested in over 275 technology companies, making them one of the most active and longstanding investors in the technology industry. "
target parent: J M Smith Corporation
target: Smith Technologies
Smith Technologies, a unit J M Smith Corporation, is comprised of products and services from the QS/1, Integra, LTC and PUBLIQ Software brands. QS/1 designs, builds, and supports industry-leading retail pharmacy management systems. PUBLIQ Software provides software for state and local governments.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 7/19/2011 via Market Wire

Thomson Reuters, acquired Manatron Inc.

synopsis: Thomson Reuters has officially acquired Manatron following regulatory clearance in the U.S. and Ukraine. Manatron is a provider of property tax automation and land registry software for governments and municipalities around the world, and was acquired from Thoma Bravo LLC, a private equity firm.
buyer: Thomson Reuters (TRI:$6,348.00)
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. It combines industry expertise with innovative technology to deliver critical information to leading decision makers. "
target parent: Thoma Bravo, LLC
target: Manatron Inc.
Manatron Inc. provides software and services for governments worldwide to completely, fairly and efficiently assess real and personal property, and to bill and collect the related property taxes in their jurisdictions.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 7/6/2010 via PR Newswire

Manatron Inc., acquired Beyond Appraisal, Inc.

synopsis: Manatron, Inc., a global leader in integrated property tax and records management software for state and local governments has announced its acquisition of Grapevine, Texas-based Beyond Appraisal. Terms of the acquisition were not disclosed.
buyer parent: Thoma Bravo, LLC
buyer: Manatron Inc.
Manatron provides software and services for state and local governments to completely, fairly and efficiently assess real and personal property, and to bill and collect the related property taxes in their jurisdictions. "
target: Beyond Appraisal, Inc.
Beyond Appraisal, Inc. develops, sells, and supports computer-aided mass appraisal technologies and other related products and services to government property tax assessment organizations, state and local government agencies and commercial property appraisal companies.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 4/8/2019 via GlobeNewswire

i3 Verticals, LLC, acquired NET Data Corporation

synopsis: i3 Verticals, Inc. has acquired Northeast Texas Data, LLC and Graves Humphries Stahl, LLC (collectively, “Net Data”). Net Data provides software and services for municipalities and local governments, primarily within Texas. The platform provides solutions for judicial management, property tax collection, court records, and more.
buyer: i3 Verticals, LLC (IIIV:$152.34)
i3 Verticals delivers seamlessly integrated payment and software solutions to small- and medium-sized businesses and other organizations in strategic vertical markets, such as education, non-profit, public, property management, and healthcare and to the business-to-business payments market. "
target: NET Data Corporation
Net Data provides software and services for municipalities and local governments, primarily within Texas. The platform provides solutions for judicial management, property tax collection, court records, law enforcement and traffic violations, and other programs critical to local governments.
price ($mm)
$24
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 9/16/2016 via BNC Analysis

Ingenuity, Inc., acquired County Apps

synopsis: Ingenuity, a business and technology services firm, has acquired County Apps, a Birmingham tech startup designed streamline communication between county governments and their citizens. County Apps built the first ever smartphone solution for mobile tag renewals and property tax payments.
buyer: Ingenuity, Inc.
Ingenuity, Inc. is a business and technology services firm. Their Optimization Services include energy/utilities, telecom and IT optimization and invoice management. Their Technology Services include application development, website design, development and hosting, and disaster recovery planning. "
target: County Apps
County Apps designs and delivers software and mobile solutions for local government and the taxpayer community. They built the first ever smartphone solution for mobile tag renewals and property tax payments.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 4/2/2008 via BusinessWire

Thoma Cressey Bravo, acquired Manatron Inc.

synopsis: Thoma Cressey Bravo, a leading private equity investment firm, has acquired Manatron, Inc. a leading provider of integrated, enterprise-level property tax solutions for state and local governments, in a transaction valued at approximately $66 million.
buyer: Thoma Cressey Bravo
Thoma Bravo is one of the most experienced and successful private equity firms in the United States. Thoma Bravo and its predecessor firms have been providing equity and strategic and operating support to promising businesses and their management teams for more than 25 years. "
target: Manatron Inc.
Manatron provides software and services for state and local governments to completely, fairly and efficiently assess real and personal property, and to bill and collect the related property taxes in their jurisdictions.
price ($mm)[EV]
$61 [$65]
rev ($mm)
$43
EBITDA ($mm)
$5
EV / rev
1.6x
EV / EBITDA
15.4x
closed 7/7/2016 via GlobeNewswire

PRA Group, acquired e-Gov Systems

synopsis: PRA Group, Inc. announced that it has acquired eGov Systems, a provider of web-based payment portals and integrated revenue administration solutions for the government sector. eGov has supported government payments since 1997 and processes more than 1.2 million transactions per year for over 300 clients.
buyer: PRA Group (PRAA:$921.69)
PRA Group, a global leader in acquiring and collecting nonperforming loans, is an integral part of the financial receivables lifecycle. It returns capital to banks and other creditors, strengthening their ability to lend and more attractively price credit for consumers. "
target: e-Gov Systems
e-Gov Systems continues to be a leading provider of cloud-based Tax Payment Portals, integrated Revenue Administration Solutions, and Technical Services for the public sector, with a focus on local government agencies.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/1/2022 via GlobeNewswire

Information Services Corporation, acquired Reamined Systems Inc.

synopsis: Information Services Corporation (ISC), a provider of registry and information management services in Canada, has acquired Reamined Systems Inc., a leading provider of property tax management infrastructure and services in Canada. Reamined offers a centralized budgetary planning tool and property tax accounting system for Ontario municipalities.
buyer: Information Services Corporation (TSX:ISV:$84.26)
Information Services Corporation (ISC) is the leading provider of registry and information management services for public data and records in Canada. Throughout their history, they've excelled at delivering value to government, to industry and to their community. "
target: Reamined Systems Inc.
Reamined Systems Inc. a recognized leader in providing property tax management infrastructure and services in Canada. Reamined's Online Property Tax Analysis System (OPTA) is a comprehensive, centralized budgetary planning tool and property tax accounting system for Ontario municipalities.
price ($mm)
$41
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 8/6/2018 via BNC Analysis

Avenu Insights & Analytics, will purchase CGSS Business from Conduent, Inc.

synopsis: Conduent Incorporated announced it has entered into an agreement to sell its Local and Municipal Constituent Government Software Solutions (CGSS) business to Avenu Insights & Analytics. Conduent's CGSS business includes software solutions for managing criminal courthouse and juror administrative functions, porperty tax collection and more.
buyer parent: Mill Point Capital
buyer: Avenu Insights & Analytics
Avenu Insights & Analytics, a portfolio company of Mill Point Capital, provides local governments with ways to achieve more predictable revenue that supports growth, fuels modernization and ensures compliance with mandated but underfunded programs. "
seller: Conduent, Inc. (NYSE:CNDT:$4,140.00)
Conduent's Local and Municipal Constituent Government Software Solutions (CGSS) business includes solutions for Government Records Management (land/vital records), Software solutions for managing criminal courthouse and juror administrative functions, Property tax collection and more.
price ($mm)
rev ($mm)
$113
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA

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Geography
Matching Companies
Ticker: TSXV:SYZ
 
 
 
 
 
 
 
 
Sylogist Ltd.
Sylogist Ltd.
Based in Canada, Sylogist is a technology innovation company that, through strategic acquisitions, investments and operations management, provides intellectual property solutions to a wide range of Public Sector customers.
year
2021
rev ($mm)
$30.53
EBITDA ($mm)
$10.26
EBIT ($mm)
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Net Income ($mm)
$4.28
Employees
91
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Ticker: TYL
 
 
 
 
 
 
 
 
Tyler Technologies, Inc.
Tyler Technologies, Inc.
Tyler Technologies is a leading provider of end-to-end information management solutions and services for local governments. Tyler partners with clients to empower the public sector to become more efficient, more accessible and more responsive to the needs of citizens.
year
2022
rev ($mm)
$1,753.59
EBITDA ($mm)
$352.41
EBIT ($mm)
$199.74
Net Income ($mm)
Employees
0
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Ticker: AIM:IDOX
 
 
 
 
 
 
 
 
IDOX plc
IDOX plc
Idox Group is a leading provider of complex information management solutions and services to the Government, Funding and Compliance sectors and increasingly to highly regulated asset intensive industries around the world in the wider corporate sector.
year
2022
rev ($mm)
$64.26
EBITDA ($mm)
$18.44
EBIT ($mm)
$7.95
Net Income ($mm)
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Ticker: SSTI
 
 
 
 
 
 
 
 
ShotSpotter
ShotSpotter
ShotSpotter is the leader in gunfire detection, location and incident-specific forensic analysis solutions that assist police and security personnel in their efforts to deter gun violence.
year
2020
rev ($mm)
$44.00
EBITDA ($mm)
$8.30
EBIT ($mm)
$2.92
Net Income ($mm)
$2.77
Employees
110
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Ticker: TSXV:PAT
 
 
 
 
 
 
 
 
Patriot One Technologies
Patriot One Technologies
Based in Canada, Patriot One Technologies is a provider of software and sensor solutions for the covert detection of weapons threats. Patriot One developed the PATSCAN, which is an innovative and effective platform to combat active shooter threats before they occur.
year
2019
rev ($mm)
EBITDA ($mm)
($12.79)
EBIT ($mm)
($13.04)
Net Income ($mm)
Employees
29
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Ticker: OCL
 
 
 
 
 
 
 
 
Objective Corporation Limited
Objective Corporation Limited
Objective Corporation is an Australian developer of information and process governance solutions. Their technology brings efficiency to all tiers of government and financial services organisations. Objective ECM enables users to take control of their information and make meaningful decisions.
year
2021
rev ($mm)
$72.83
EBITDA ($mm)
$19.34
EBIT ($mm)
$17.30
Net Income ($mm)
$12.61
Employees
400
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Ticker: OM:FPIP
 
 
 
 
 
 
 
 
FormPipe Software AB
FormPipe Software AB
FormPipe Software AB is a software company in the field of Enterprise Content Management (ECM). They develop ECM products for structuring information and supply them to major companies, authorities and organisations.
year
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rev ($mm)
$49.81
EBITDA ($mm)
$9.35
EBIT ($mm)
$7.09
Net Income ($mm)
$5.63
Employees
276
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Ticker: TSX:MAGT
 
 
 
 
 
 
 
 
Magnet Forensics Inc.
Magnet Forensics Inc.
Magnet Forensics is a Canada-based leader in the development of digital investigation software that acquires, analyzes and shares evidence from computers, smartphones, the cloud and more. Magnet Forensics helps examiners and investigators fight crime, protect assets and guard national security.
year
2021
rev ($mm)
$70.29
EBITDA ($mm)
$14.90
EBIT ($mm)
$13.88
Net Income ($mm)
$7.34
Employees
394
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Ticker: NYSE:NOTE
 
 
 
 
 
 
 
 
FiscalNote Inc.
FiscalNote Inc.
FiscalNote is a leading global technology provider of legal and policy data and insights. By combining AI capabilities, expert analysis, and legislative, regulatory, and geopolitical data, FiscalNote is reinventing the way that organizations minimize risk and capitalize on opportunity.
year
2022
rev ($mm)
$82.91
EBITDA ($mm)
($39.89)
EBIT ($mm)
($51.51)
Net Income ($mm)
Employees
0
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Ticker: OB:MRCEL-ME
 
 
 
 
 
 
 
 
Mercell Holding AS
Mercell Holding AS
Mercell is a leading Nordic provider of eTender system and Tender Offers. Suppliers in all industries use Mercell eTender system to find tenders and contracts in the public sector. They simplify the public procurement process and makes it easy for the buyer to interact with suppliers.
year
2021
rev ($mm)
$48.52
EBITDA ($mm)
$0.95
EBIT ($mm)
($2.79)
Net Income ($mm)
Employees
578
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Ticker: US:AWRE
 
 
 
 
 
 
 
 
Aware, Inc.
Aware, Inc.
Aware is the world’s leading provider of biometrics products and solutions. Aware’s identity verification and management solutions support financial services, enterprise security, healthcare, human resources, citizen ID, border management, law enforcement, defense, and intelligence.
year
2021
rev ($mm)
$16.28
EBITDA ($mm)
($5.05)
EBIT ($mm)
($5.73)
Net Income ($mm)
Employees
90
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Ticker: NASDAQ: WAVD
 
 
 
 
 
 
 
 
WaveDancer, Inc.
WaveDancer, Inc.
WaveDancer offers zero trust blockchain-enabled software solutions for supply chain security. Its technologies are deployed and being used to help government organizations manage very complex supply chain challenges.
year
2020
rev ($mm)
$13.90
EBITDA ($mm)
$0.42
EBIT ($mm)
$0.41
Net Income ($mm)
$0.41
Employees
35
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Ticker: US:SENCF
 
 
 
 
 
 
 
 
Serenic Corporation
Serenic Corporation
Serenic is an international software company that conducts its operations through three active wholly owned subsidiaries: Serenic Software, Inc. ("SSI"), Serenic Canada Inc. ("SCI") and Serenic Software (EMEA) Limited ("SSE").
year
2008
rev ($mm)
EBITDA ($mm)
EBIT ($mm)
Net Income ($mm)
Employees
0
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Ticker: OTCPK:CLSI
 
 
 
 
 
 
 
 
Clancy Systems International, Inc.
Clancy Systems International, Inc.
Clancy Systems International has the #1 Android based solution for issuing parking citations. The company provides ticket issuance, data management, noticing, enforcement, payment processing, permitting, and all other essential modules for a complete ticket administration program.
year
2019
rev ($mm)
EBITDA ($mm)
$0.01
EBIT ($mm)
($0.01)
Net Income ($mm)
Employees
51
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Ticker: REKR
 
 
 
 
 
 
 
 
Rekor Systems
Rekor Systems
Rekor is a Maryland-based company providing real-time roadway intelligence through AI-driven decisions. Rekor bridges commercial and government sectors with actionable, real-time vehicle recognition data to enable faster, better informed decisions with greater outcomes.
year
2021
rev ($mm)
$11.86
EBITDA ($mm)
($13.00)
EBIT ($mm)
($14.55)
Net Income ($mm)
Employees
109
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