i3 Verticals Acquires 30-Year-Old Court Systems Software Business

Payroc Acquires i3 Verticals' Merchant Services Business

June 26, 2024

Payments & Fintech

Payroc WorldAccess LLC has acquired i3 Verticals' merchant services business and related payments software and technology in an all-cash transaction valued at $440 million (subject to purchase price adjustments). The acquisition—completed following regulatory approvals—boosts Payroc's processing scale and distribution capabilities while integrating i3's payments technology and merchant relationships into Payroc's platform.

i3 Verticals Acquires AccuFund, Inc.

January 1, 2023

Software

i3 Verticals, Inc. (Nasdaq: IIIV) acquired AccuFund, Inc., a provider of fund accounting software for U.S. government entities and nonprofits, effective January 1, 2023. The acquisition expands i3 Verticals' public sector product set and customer base by adding AccuFund's fund accounting capabilities to its vertical software platform.

i3 Verticals Acquires Celtic Systems for $85 Million

November 30, 2022

Software

i3 Verticals, Inc. (Nasdaq: IIIV) acquired Celtic Systems (Celtic Cross Holdings), a provider of enterprise software and services for motor vehicle administrations and motor carriers, for approximately $85 million, effective October 1, 2022. The acquisition expands i3 Verticals' Public Sector capabilities and geographic reach across U.S. states and Canadian provinces and is expected to be accretive to pro forma adjusted diluted EPS.

i3 Verticals Acquires Healthcare Revenue Cycle Management Business

October 1, 2021

Healthcare Services

i3 Verticals, Inc. acquired an undisclosed healthcare revenue cycle management business effective October 1, 2021 for $60.0 million in cash. The acquired business provides revenue cycle management, administrative and consulting services to hospitals, academic medical centers and practice groups—leveraging proprietary software, EHR integrations and payer relationships to expand i3 Verticals' Healthcare vertical.

i3 Verticals Acquires Business Information Systems (BIS)

February 5, 2021

Payments & Fintech

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.

i3 Verticals Acquires Net Data (Northeast Texas Data, LLC and Graves Humphries Stahl, LLC)

April 8, 2019

Government & Public Sector

i3 Verticals, Inc. completed the acquisition of Northeast Texas Data, LLC and Graves Humphries Stahl, LLC (collectively “Net Data”) for approximately $24 million. Net Data provides software and services to municipalities and local governments in Texas (a team of ~70 employees), and the deal expands i3 Verticals' Public Sector capabilities and presence in the Texas market.