Superion, TriTech and Aptean are merging and creating a software provider for local government. Financial terms weren’t announced. Vista Equity Partners and Bain Capital will co-own the combined business. TriTech is a Bain portfolio company while Vista owns Superion and Aptean. Macquarie Capital served as the financial advisEr to TriTech. Shea & Co advised to Aptean and Superion.
Superion, TriTech and Aptean, three leading technology companies that offer proven solutions for public safety and public administration agencies, today announced that they have entered into a definitive agreement to create a new business focused on building software that solves some of the most critical issues facing local governments. The combination of Superion, TriTech, and the public sector and healthcare business of Aptean creates an industry leader that will offer the broadest and most agile suite of software solutions to serve agencies of all sizes across North America. The transaction is the largest investment focused exclusively on developing software for the public sector.
The new company will maintain all current products from each business while investing in the development of new and advanced technology solutions. Its public safety business will focus on making communities safer and reducing the number of victims of crime and disaster through solutions such as integrating devices that detect active shooters with emergency response systems, forecasting and preventing crimes through smarter patrolling, and advanced analytics that help measure and improve public safety, among many others. Its public administration business will focus on making local government more transparent and engaging with solutions that empower residents with interactive voice-enabled bill payment, improve tracking and response time for permitting, and use AI and data science to quickly transform local government data into web-enabled reports, among many other solutions.
The new company will be led by Simon Angove, an experienced technology and software executive who currently serves as CEO of Superion. “In an environment of increasing citizen expectations and constrained public resources, technology can play a critical role by creating a multiplier effect on the work done by public sector agencies. The new company brings together the largest pool of talent focused specifically on building innovative software technologies for the public sector, and will look to incorporate recent advances in data science, cloud-based solutions, IoT and AI/ML to enhance the capabilities and impact of the public sector,” said Angove. TriTech President and CEO Tony Eales will join the board of the new company.
Vista Equity Partners and Bain Capital will be co-owners of the combined business. Bain Capital acquired TriTech this year, and Superion and Aptean are both portfolio companies of Vista Equity Partners. Both firms are well experienced in investing in and managing some of the world’s most innovative enterprise software companies. Their expertise and best practices, combined with an experienced management team, will enable the new company to truly power innovation in the government technology space.
The transaction is subject to customary closing conditions and is expected to close during the third quarter of 2018. Macquarie Capital served as the financial advisor to TriTech. Shea & Company served as the exclusive financial advisor to Aptean and Superion.
Superion is a leading software and information technology solutions provider that meets the specialized requirements of city, municipal, and county governments, as well as public safety and justice agencies and nonprofit organizations. Drawing upon more than 35 years of experience, the knowledge and expertise of Superion employees help communities that rely on our software serve more than 175 million people each day. Superion is Powering the Public Experience.
TriTech revolutionized the public safety industry by becoming one of the first vendors to embed mapping technology into computer aided dispatch software and to develop one of the most sophisticated recommendation algorithms. Today, TriTech leads the way as the undisputed leader with software that covers every facet within the incident-response workflow, including 911, computer aided dispatch, field-based reporting, records management, jail management, analytics and intelligence, reporting, and ambulance billing software.
Aptean provides very specific industries with very specific ERP, supply chain management and customer experience solutions. In today’s fast-paced, highly competitive economy, organizations don’t have time to waste forcing homegrown software, spreadsheets, and one-size-fits-all solutions to do things they were never designed to do. Aptean is on a mission to end those workarounds – with industry-specific solutions instead of generic software, expert support instead of making you go it alone, and a steady influx of new ideas instead of the status quo. That’s why over 7,000 highly specialized organizations in more than 20 industries and 74 countries rely on Aptean to streamline their everyday operations.