Springbrook Goes Global With New Zealand Acquisition
The company has bought up MAGIQ Software, which occupies much of the same space as Springbrook but comes with some extra technology as well. It’s Springbrook’s second acquisition since it spun out from Accela last year.
Springbrook Software is going international.
The company, which sells financial, HR, billing and other software to government in the U.S., has acquired the New Zealand firm MAGIQ Software. Though the two companies mostly occupy the same market space — enterprise resource planning — it will be a sizable merger. MAGIQ has about 550 customers in Australia, New Zealand and the U.S., compared with Springbrook’s 1,100.
“Both Springbrook and MAGIQ Software put customer service and product innovation first,” said Springbrook CEO Robert Bonavito in a press release. “This acquisition represents the execution of our strategy to deliver the most comprehensive suite of fully integrated cloud-based solutions for local government agencies. The MAGIQ Cloud platform complements our own new Cirrus financial cloud platform with new advanced capital budgeting/planning/reporting and document management capabilities.”