According to a news release from GCOM, the deal will keep Three Sigma’s management team in place and allow both companies to expand their range of services and become more competitive.
Founded in 2005, GCOM helps state and local governments update and consolidate their IT systems for vital records, licensing and permitting, public health, public safety and cybersecurity. GCOM is backed by New York-based private investment firms Sagewind Capital and Bagnols Family Office Investment Partners.
Three Sigma, founded in 2003 and headquartered in Maryland, provides software for the administration of WIC programs in 11 states, 10 American Indian reservations and one U.S. territory. Three Sigma’s products work with EBT and coupon-based benefits for low-income pregnant women, breastfeeding women and children under the age of 5; support scanners and signature pads; and interface with other state services.
GCOM President and co-founder Girish Bhatia said the deal should be good news to customers of both.
“Today GCOM serves the public sector in three key domains: public safety, licensing and permitting and health and human services. With the acquisition of Three Sigma, we acquire a new product to support the WIC program for state governments,” he said. “Potentially having a customer base in different states will help us sell GCOM services, and then vice versa. … We have an easier way to service the customers, because we become local to that particular state.”
