Portland software maker buys Spokane firm
Just a week after becoming an independent company Springbrook Software has acquired a similarly positioned Spokane software company.
Springbrook, which makes software that local governments, utilities and other entities use for finance, accounting, human resources, payroll and billing, has acquired BIAS Software. Terms of the deal were not disclosed but the entire BIAS team is joining Springbrook.
Springbrook will also keep the BIAS Spokane office, since the majority of that company’s customers are in Washington state.
Like Springbrook, BIAS makes accounting software aimed at local governments.
“At its core, BIAS was founded to serve the needs of local governments, and that focus hasn’t changed in nearly three decades,” said BIAS co-founders Mark Felchlin and Wes Hein in a written statement. “Now as part of the Springbrook family, we are excited about the prospect of helping more agencies in the Pacific Northwest region do the same.”
Springbrook had more than 800 customers using its software. Those governments and agencies serve about 50,000 people, according to the publication Government Technology.
In BIAS, Springbrook gains a product favored by smaller organizations as well as the company’s existing customer base of more than 250.
“BIAS is well-recognized and trusted among local agencies and special districts in Washington for its powerful and easy-to-use financial software solutions, and its client partnership culture,” said Max Schnoedl, Springbrook’s CEO in a written statement. “Since becoming an independent company singularly focused on serving local governments, we continue to look for ways to add value to our customers.”
Springbrook emerged as an independent company Jan. 8 through a strategic investment by private equity firm Accel-KKR. The company had previously been acquired by California software maker Accela in 2015.
When the investment was announced, Accel-KKR noted that its resources would be used to help Springbrook grow through acquisition.
Prior to the BIAS acquisition, Springbrook had just under 100 employees.