i3 Verticals Completes Public Sector Acquisition
06 Janvier 2023 - 2:00PM
Business Wire
i3 Verticals, Inc. (Nasdaq: IIIV) (the “Company”) today
announced the acquisition, effective January 1, 2023, of Accufund,
Inc. (“Accufund”), a provider of fund accounting solutions for
government entities and nonprofits in the United States. The
Company will discuss this acquisition in further detail during its
upcoming fiscal 2023 first quarter earnings call in February.
Greg Daily, CEO of i3 Verticals, commented, “The addition of
Accufund’s accounting software solutions will greatly enhance our
go to market strategy in the Public Sector vertical. We have been
exploring for some time the acquisition of a strong fund accounting
solution to further complement our wide ranging Public Sector
product offerings and we believe that Accufund is an ideal fit.
While it is a smaller acquisition, Accufund meets a strategic
objective and brings its own expansive new customer base to
supplement our own Public Sector and Education footprint. As
always, we intend to continue our M&A efforts with strategic
acquisitions in the Healthcare and Public Sector verticals to drive
growth for the future.”
About i3 Verticals
The Company delivers seamless integrated software and services
to customers in strategic vertical markets. Building on its
sophisticated and diverse platform of software and services
solutions, the Company creates and acquires software products to
serve the specific needs of public and private organizations in its
strategic verticals, including its Public Sector (including
Education) and Healthcare verticals.
Forward-Looking Statements
This release contains forward-looking statements that are
subject to risks and uncertainties. All statements other than
statements of historical fact or relating to present facts or
current conditions included in this release are forward-looking
statements, including any statements regarding the Company's fiscal
financial outlook, expected leverage ratios and statements of a
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based on assumptions that we have made in light of the Company's
industry experience and its perceptions of historical trends,
current conditions, expected future developments and other factors
we believe are appropriate under the circumstances. As you review
and consider information presented herein, you should understand
that these statements are not guarantees of future performance or
results. They depend upon future events and are subject to risks,
uncertainties (many of which are beyond the Company's control) and
assumptions. Factors that could cause actual results to differ from
those expressed or implied by our forward-looking statements
include, among other things: future economic, competitive, and
regulatory conditions, the COVID-19 pandemic, the successful
integration of acquired businesses, and future decisions made by us
and our competitors. All of these factors are difficult or
impossible to predict accurately and many of them are beyond our
control. For a further list and description of these and other
important risks and uncertainties that may affect our future
operations, see Part I, Item 1A - Risk Factors in our most recent
Annual Report on Form 10-K filed with the Securities and Exchange
Commission, which we may update in Part II, Item 1A - Risk Factors
in Quarterly Reports on Form 10-Q we have filed or will file
hereafter.
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only as of the date of this release and we undertake no obligation
to publicly update any forward-looking statement, whether as a
result of new information, future developments or otherwise, except
as may be required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230106005013/en/
Clay Whitson Chief Financial Officer i3 Verticals, Inc. (888)
251-0987 investorrelations@i3verticals.com
i3 Verticals (NASDAQ:IIIV)
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