Manatron Inc., a Portage, Mich.–based provider of property tax solutions for state and local governments, has acquire Software Techniques Inc., a provider of computer-assisted mass appraisal software to government property appraisal districts. Thoma Bravo, which took Manatron private last year for $66 million, helped finance the deal. No overall pricing terms were disclosed.
anatron, Inc. (Manatron), the nation’s leading provider of integrated, enterprise-level property solutions for state and local governments, has acquired Software Techniques, Inc. (STI), a leading supplier of computer assisted mass appraisal (CAMA) software to government property appraisal districts. The acquisition was financed through an investment by private equity firm Thoma Bravo, LLC.
Founded in 1987 and headquartered in Winter Park, Florida, STI designs, develops and markets CustomCAMA™, a comprehensive, enterprise-level CAMA solution. The CustomCAMA product manages over five million parcels in the U.S. STI primarily serves large and progressive counties including Miami-Dade, Broward, Hillsborough and Pinellas, Florida; Clark (Las Vegas) and Washoe (Reno), Nevada; and Houston, Texas. STI also provides professional services including installation, training, project management and data conversion in connection with sales of its CAMA software.
“STI’s CustomCAMA solution is widely recognized as the preeminent CAMA solution for state and local governments,” offered Bill McKinzie, President and CEO of Manatron. “Incorporating CustomCAMA into Manatron’s GRM product line will position Manatron as the clear choice for jurisdictions evaluating assessment, tax billing and tax collection software products.”
“Government agencies today are increasingly interested in an enterprise product, not just a point solution,” added Larry Zirbel, President of STI. “STI’s CAMA product will complement Manatron’s property tax and recording solutions, presenting a unique opportunity to build the leading enterprise solution in the industry. We believe the acquisition of STI by Manatron will significantly benefit each company’s current customer base.”
”This is the second major acquisition Manatron has completed since the Company’s take-private in April of 2008,” said Holden Spaht, a Thoma Bravo principal. “Thoma Bravo is excited to continue supporting Manatron’s acquisition strategy in the state and local government property tax software market.”
STI has a staff of approximately 40 employees who joined Manatron as of January 1, 2009.
About Manatron, Inc.
Manatron, a privately-held company and an investment of private equity firms Thoma Cressey Bravo, Inc. and Thoma Bravo, LLC, provides software and services for state and local governments to completely, fairly and efficiently assess real and personal property, and to bill and collect the related property taxes in their jurisdictions. Manatron’s software manages the entire property life cycle, which includes deed recording, land records, GIS (Geographic Information System) integration, valuation, assessment administration, personal property, business licenses, cashiering, tax billing and collection, delinquents and tax sales and e-government. Professional services consist of data conversions, installation, training, project management, hardware maintenance, forms processing and printing, consulting and appraisal services. Manatron is headquartered in Portage, Michigan and has offices throughout the United States. Manatron currently serves over 1,400 customers and manages approximately 30 million parcels. More information about Manatron, Inc. is available at the Company’s website www.manatron.com.
About Software Techniques, Inc.
Founded in 1987, STI is a premier provider of computer assisted mass appraisal (CAMA) software to government property appraisers. The company’s solutions determine property value for taxation purposes. More information on STI can be found at www.customcama.com.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity investment firm that has been providing equity and strategic support to experienced management teams building growing companies for more than 28 years. The firm originated the concept of industry consolidation investing, which seeks to create value through the strategic use of acquisitions to accelerate business growth. Through a series of private equity funds, Thoma Bravo currently manages approximately $2.5 billion of equity capital. In the software industry, Thoma Bravo has completed 38 acquisitions across 12 platform companies with total annual earnings of approximately $600 million. For more information on Thoma Bravo visit www.thomabravo.com.