Sylogist Ltd. Acquires Municipal Accounting Systems (MAS)
March 17, 2021
Sylogist Ltd. (TSXV: SYZ), through its subsidiary Sylogist USA Inc., acquired Municipal Accounting Systems, Inc. (MAS), an Oklahoma-based provider of K-12 student information and school accounting software, for CAD 37.8 million (subject to working capital adjustments). The deal is immediately accretive to Sylogist, expands its K-12 SaaS offerings (MAS serves ~85% of Oklahoma districts and ~500 districts overall), and was financed with 50% cash and the remainder drawn on Sylogist's credit facility as the company simultaneously expanded that facility to CAD 75 million.
- Buyers
- Sylogist Ltd., Sylogist USA Inc.
- Targets
- Municipal Accounting Systems, Inc.
- Sellers
- Pam Humphrey (founder)
- Industry
- Software
- Location
- Oklahoma, United States
- Transaction Type
- Buyout
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