i3 Verticals Acquires Celtic Systems for $85 Million

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

December 31, 2021

Software

i3 Verticals, Inc. announced an acquisition effective December 31, 2021 of a 30-year-old business that provides court system data management solutions across the Southeast and Mid-Atlantic, including electronic filing, case management and document imaging software for state-level customers. The deal expands i3 Verticals' Public Sector product suite and creates cross-selling opportunities; the company also granted inducement equity awards to certain employees in connection with the acquisition.

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 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 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.

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 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.