Springbrook goes global with the acquisition of New Zealand
Springbrook Software goes international.
The company, which sells financial, HR, billing and other software to the US government, has acquired New Zealand-based MAGIQ Software. While the two companies mostly occupy the same market space – enterprise resource planning – this will be a significant merger. MAGIQ has approximately 550 customers in Australia, New Zealand and the United States, compared to 1,100 for Springbrook.
âSpringbrook and MAGIQ Software prioritize customer service and product innovation,â Springbrook CEO Robert Bonavito said in a press release. âThis acquisition represents the execution of our strategy to provide the most comprehensive suite of fully integrated cloud solutions for local government agencies. The MAGIQ Cloud platform complements our own new Cirrus financial cloud platform with new advanced investment budgeting / planning / reporting and document management capabilities.
MAGIQ will bring abilities to Springbrook that he did not already have; for example, civic engagement and property management functionality. MAGIQ also offers mobile applications.
It is the second company acquired by Springbrook since its release from Acela in January 2020. Shortly after this agreement, it acquired BIAS Software, which primarily served local governments in Washington state.
It’s also part of a sequence of mergers and acquisitions particularly active in the US government’s tech space this year; notable deals have included Tyler buying NIC, CivicPlus buying Municode, and Granicus buying OpenCities and Bang the Table almost simultaneously.