i3 Verticals completes public sector acquisition
Jan. 06, 2023 9:13 AM ETi3 Verticals, Inc. (IIIV)By: Deepa Sarvaiya, SA News Editor
- i3 Verticals (NASDAQ:IIIV) acquires Accufund, a provider of fund accounting solutions for government entities and nonprofits in the United States, effective January 1, 2023.
- The company will discuss this acquisition in further detail during its upcoming 1Q23 earnings call in February.
- CEO update: “The addition of Accufund’s accounting software solutions will greatly enhance our go to market strategy in the Public Sector vertical. We have been exploring for some time the acquisition of a strong fund accounting solution to further complement our wide ranging Public Sector product offerings and we believe that Accufund is an ideal fit. While it is a smaller acquisition, Accufund meets a strategic objective and brings its own expansive new customer base to supplement our own Public Sector and Education footprint. As always, we intend to continue our M&A efforts with strategic acquisitions in the Healthcare and Public Sector verticals to drive growth for the future.”