By uniting under the GTY organization, these companies can leverage their marketing power, also making it easier for government entities to access needed services. with transactions totalling up to $497 million, GTY Technology Holdings attained six government-serving technology companies to hold spots on the GovTech 100 list.
1. Bonfire Interactive Ltd., (Canada) a developer of cloud-based sourcing and procurement software
2. CityBase Inc., (Chicago, Ill.) a developer of technology that also creates websites and mobile applications for utilities, self-service kiosks and point of sale tablets
3. eCivis Inc., (Pasadena, Calif.) a cloud-based grants management system provider for state, local and tribal governments
4. Open Counter Enterprises Inc., (San Francisco, Calif.) whose software guides applicants through complex permitting and licensing procedures
5. Questica Inc. and Questica USCDN Inc; provider of budgeting software, performance management, transparency and data visualization solutions
6. Sherpa Government Solutions, (Denver, Colo.) which provides public-sector budgeting software and consulting services
three GT100 companies amongst these are OpenCounter, CityBase and Questica.
The six firms have a customer base of about 1,500 companies; mostly city and county users with some utilities and small state agencies, according to Rohleder. Once they are under the GTY protection, they will have their individual retail identities. “With an overarching brand that draws them all together, each will keep its existing brand, as we feel there is strong value out there,” he adds.
By uniting the larger organization, companies can potentially leverage their marketing power making it easier for government entities to access needed services all along.
Most of the products are SaaS-based, with an implementation timeline of 90 to 120 days typically paid for operating funds, rather than capital investments. The GTY’s market play is premised on high state and local demand for all the above services.
With the completion of acquisitions, the company expresses that it will have approximately $237 million in cash on the balance sheet.