Government spend decisions must optimize to offer better value for communities and economy by digitizing with strategic sourcing and procurement software
(KITCHENER, ONTARIO, February 19, 2019) – Today Bonfire Interactive Ltd. (Bonfire), a leader in strategic sourcing and procurement software, has formally merged with GTY Technology Holdings Inc. (NASDAQ: GTYH) (“GTY”)) in a business combination with five other leading software as a service (SaaS) companies specializing in government technology. Executives at GTY and the six newly merged businesses will share the honour of ringing the Nasdaq closing bell on today (watch it live here) to celebrate the company’s initial public offering.
All parties involved have a shared mission to digitize government and achieve a new standard in citizen engagement and resource management. Bonfire will continue to run as an independent business unit under the umbrella company.
“While government procurement can sound dry and dull to the uninitiated, we think just the opposite”, said Corry Flatt, CEO and Co-Founder of Bonfire. “We believe that the application of cloud software to government procurement is one of the most pressing challenges of our time, and has the potential to tangibly change our world for the better. This is a big mission — the kind that requires deep resources and partners to fully accomplish — which is why we’re delighted to be joining forces with the other companies to form GTY and continue our journey as part of a new publicly-traded company.”
Bonfire announced intent to join GTY (which plans to rebrand in the coming months) in September 2018. Established in 2012, Bonfire is headquartered in Waterloo Region, has grown to 95+ employees, and has secured over 250 clients. The Company prides itself on offering a class-leading client experience, averaging customer satisfaction rates of over 95%.
“After an extensive review of government-focused technologies, it became obvious that Bonfire would be a critical element for our vision of a fully digitized public sector,” said Steven Rohleder, GTY Chairman and CEO. “Bonfire is the leading next-generation solution for public sector sourcing and procurement, allowing professionals to trade administrative tasks with strategic ones, and demonstrate true value to their organization and beyond.”
GTY will be made up of six companies, (CityBase, eCivis, Questica, Sherpa, OpenCounter, and Bonfire) representing functions of payments, grant management, budgeting, permitting, and procurement. Together, the companies service more than 1,500 government clients and share a unique opportunity to offer a transformative impact on the public sector.
To explore Bonfire’s strategic sourcing and procurement software, visit www.GoBonfire.com.
About GTY Technology Holdings Inc. (“GTY”)
Founded in November 2016 by Bill Green (former Chairman & CEO, Accenture), Joe Tucci (former CEO & Chairman, EMC), and Harry You (former EVP, EMC; former CFO, Accenture & Oracle), GTY (NASDAQ: GTYHU/GTYH/GTYHW) was formed to identify and invest in compelling and emerging trends in the technology sector. Today, it combines six leading GovTech firms under a single umbrella: CityBase, eCivis, Questica, Sherpa, OpenCounter, and Bonfire. These companies will operate as independent business units under GTY. They represent the functions of payments and digital services, grant management, budgeting, permitting, and procurement, respectively. Collectively, GTY is transforming how the public sector does business and serves its constituents. For more information visit www.gtytechnology.com.
About Bonfire Interactive Inc.
Bonfire Interactive Inc., a leader in strategic sourcing and procurement software, empowers organizations to make the right purchasing decisions. With tools to support the entire vendor lifecycle (sourcing, contract management, and vendor performance), Bonfire goes beyond traditional mechanics of standard procurement suites to make complex decision-making easy. The combination of flexible technology and world-class customer service makes Bonfire the solution of choice for both public and private sector organizations of all sizes around the globe. Bonfire was named a 2018 Gartner Cool Vendor and proudly reports a client retention rate greater than 96 percent. www.GoBonfire.com
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