M&A Deal Summary

OpenGov Acquires Cartegraph

On July 27, 2022, OpenGov acquired internet software and services company Cartegraph from Pamlico Capital

Acquisition Highlights
  • This is OpenGov’s 3rd transaction in the Internet Software and Services sector.
  • This is OpenGov’s 4th transaction in the United States.
  • This is OpenGov’s 1st transaction in Iowa.

M&A Deal Summary

Date 2022-07-27
Target Cartegraph
Sector Internet Software and Services
Buyer(s) OpenGov
Sellers(s) Pamlico Capital
Deal Type Add-on Acquisition

Target

Cartegraph

Dubuque, Iowa, United States
Cartegraph is a provider of SaaS-based asset management solutions to local governments. The company devotes itself to cities, counties, and government agencies seeking to be more effective, efficient, and productive in their daily operations. It builds software that empowers users to capture infrastructure asset data, analyze it, and use it to prepare for the future. Cartegraph was established in 1994 and is based in Dubuque, Iowa.

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Buyer(S) 1

Buyer

OpenGov

San Francisco, California, United States

Category Company
Founded 2012
Sector Internet Software and Services
DESCRIPTION

OpenGov is a provider of cloud-based performance intelligence and financial reporting solutions for government institutions. OpenGov helps governments analyze, share, compare, and allocate public money. OpenGov was founded in 2012 and is based in San Francisco, California.


DEAL STATS #
Overall 4 of 5
Sector (Internet Software and Services) 3 of 3
Type (Add-on Acquisition) 4 of 5
State (Iowa) 1 of 1
Country (United States) 4 of 5
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-23 ProcureNow

San Francisco, United States

ProcureNow is a premier multi-tenant SaaS software provider for government procurement and contract management. ProcureNow enables government leaders to serve stakeholders with the most effective solutions designed to streamline critical workflows, enable data-driven decisions, and communicate results transparently. ProcureNow is based in San Francisco, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-01 iGov Services

Covington, Kentucky, United States

iGov Services is an all-in-one revenue and tax collection solution for cities, counties, and special districts and government agencies. With the software, users can accurately and efficiently track all aspects of Property Taxes from real estate to vehicle and more, as well as various types of Treasury Taxes (Business License, Transient Lodging Tax, Occupational Tax, Payroll Tax, and more). iGov Services was founded in 2000 and is based in Covington, Kentucky.

Buy -

Seller(S) 1

SELLER

Pamlico Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Pamlico Capital is a private equity group focused on mid-sized transactions. Pamlico looks to invest $25 to $125 million per transaction. Sectors of interest include business and technology services, consumer products/services, industrial, energy, financial services, healthcare, media, and communications. Pamlico will consider both minority and majority positions. Prospective transactions include management or leveraged buyouts, recapitalizations, growth financings, mezzanine, and special situations. Pamlico was formerly known as Wachovia Capital Partners. The Firm was originally formed in 1988 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 57 of 61
Sector (Internet Software and Services) 6 of 6
Type (Add-on Acquisition) 29 of 32
State (Iowa) 2 of 3
Country (United States) 55 of 59
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-12 SpendHQ

Atlanta, Georgia, United States

SpendHQ provides procurement operations software platform. The company’s product suite includes spend analytics software and procurement performance management software. SpendHQ was founded in 2013 and is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-13 InRule

Chicago, Illinois, United States

InRule is a decision management platform and business rules management system (BRMS). InRule enables enterprises to understand and automate decisions with unparalleled speed, agility, accuracy, and transparency. InRule was founded in 2002 and is based in Chicago, Illinois.

Buy -