i3 Verticals Acquires Business Information Systems (BIS)
February 5, 2021
i3 Verticals, Inc. (Nasdaq: IIIV) acquired substantially all of the assets of Business Information Systems, GP and Business Information Systems, Inc. (BIS), a provider of software and electronic payment solutions serving state and local governments. The aggregate purchase price was approximately $87.7 million ( $52.5M cash and $35.2M Class A common stock) plus up to $16.0 million of contingent consideration; approximately 150 BIS employees joined i3 Verticals.
- Buyers
- i3 Verticals, Inc.
- Targets
- Business Information Systems, GP, Business Information Systems, Inc.
- Industry
- Payments & Fintech
- Location
- Tennessee, United States
- Transaction Type
- Buyout
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