Warburg Pincus-backed NEOGOV to merge with PowerDMS

NEOGOV, which is backed by Warburg Pincus, has agreed to merge with PowerDMS, a provider of compliance software. No financial terms were disclosed. William Blair served as financial advisor to PowerDMS in the transaction. Based in El Segundo, California, NEOGOV is a provider of public sector human resources software.

PRESS RELEASE

EL SEGUNDO, Ca.; December 10, 2020 – NEOGOV, a market leader in public sector human resources software, today announced a definitive agreement to merge with PowerDMS, a leader in cloud-based compliance software that helps customers simplify how they create, track, and attest to policies, training, and industry standards. The merger will expand NEOGOV’s product offerings and further demonstrates its commitment to streamlining the complex processes needed to support the public sector workforce. Terms of the transaction were not disclosed.

NEOGOV’s full suite human capital management solution enables recruiting, hiring, onboarding, training, performance management, payroll, benefits and time and attendance processes specific to public sector and higher education organizations. PowerDMS’ products strategically complement NEOGOV’s platform and capabilities, setting it up for the next chapter of the company’s growth. The merger will help customers solve complex human resource and compliance challenges under one roof by unifying best-in-class human resource tools and document management in an age of increased pressure for additional accountability and transparency.

The merger is subject to regulatory approval. The combined businesses will be operated by NEOGOV, which is headquartered in El Segundo, CA. Shane Evangelist will be CEO of the combined company.

“The addition of PowerDMS to the NEOGOV family is a natural fit. It increases our core offering and deepens our expertise around procedure and policy management, which will ultimately enable us to modernize more of the vital systems that serve our citizens,” Evangelist said, “The tremendous team and solutions at PowerDMS furthers our mission to ‘Serve the people who serve the people.’”

PowerDMS offers a secure cloud-based policy, compliance, accreditation management solution that helps organizations with transparency, accountability, risk and liability reduction, increases organizational efficiency, and helps save lives. The company provides secure FBI CJIS compliant software tools to organize and manage an organization’s critical documents and industry accreditation standards and allows for training and testing of employees. PowerDMS serves customers in public safety, government, and healthcare and has achieved significant organic growth in these markets.

“Delivering transformative Cloud-based solutions that automate and scale complex processes needed to run local government is at the heart of what both companies do well. By expanding its offering to include the products of PowerDMS, NEOGOV is well-positioned to continue our success and further increase a combined footprint in the public sector.” said David DiGiacomo, CEO of PowerDMS.

The merger of PowerDMS broadens the solutions offered by NEOGOV and further supports the company’s long-term growth strategy and dedication to enhancing its comprehensive capabilities within the human resources software market.

William Blair served as exclusive financial advisor to PowerDMS in the transaction.

About NEOGOV
NEOGOV is the leading provider of an integrated HR, payroll, and talent management solution for the public sector. NEOGOV customers report increased employee productivity and engagement, time and cost savings, improved regulatory requirement compliance, and reduced paper processes, with a net result of better services for citizens. Serving over 6,000 organizations, NEOGOV provides intelligent HR for the public sector. More information at www.neogov.com.

About PowerDMS
Founded in 2001, PowerDMS offers a cloud-based compliance management platform that helps users reduce risk and liability, protect reputation, increase efficiency, and save lives. The company provides software tools to organize and manage an organization’s critical documents and industry accreditation standards and allows for training and testing of employees. Most of the over 4,000 PowerDMS customers represent high-risk industries with compliance requirements in the healthcare, government, and commercial sectors. To learn more, go to www.PowerDMS.com .