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.”