The company, which sells financial, HR, billing and other software to government in the U.S., has acquired the New Zealand firm MAGIQ Software. Though the two companies mostly occupy the same market space — enterprise resource planning — it will be a sizable merger. MAGIQ has about 550 customers in Australia, New Zealand and the U.S., compared with Springbrook’s 1,100.
“Both Springbrook and MAGIQ Software put customer service and product innovation first,” said Springbrook CEO Robert Bonavito in a press release. “This acquisition represents the execution of our strategy to deliver the most comprehensive suite of fully integrated cloud-based solutions for local government agencies. The MAGIQ Cloud platform complements our own new Cirrus financial cloud platform with new advanced capital budgeting/planning/reporting and document management capabilities.”
MAGIQ will bring Springbrook some capabilities it didn’t already have; for example, civic engagement and property management functionality. MAGIQ also offers mobile apps.
This is the second company Springbrook has acquired since it spun out of Accela in January 2020. Shortly after that deal it acquired BIAS Software, which mainly served local governments in the state of Washington.
It also fits in with a particularly active mergers and acquisitions streak in the U.S. gov tech space this year; notable deals have included Tyler buying NIC, CivicPlus acquiring Municode and Granicus buying OpenCities and Bang the Table almost simultaneously.
