- Combined company will be valued at about $1.25 billion
- Deal comes as public agencies upgrade infrastructure
Startup OpenGov is acquiring Cartegraph Systems LLC, a software provider for public agencies, in a deal that could benefit from the efforts of local governments to modernize their technology.
The combined company has a valuation of about $1.25 billion, according to people familiar with the matter who asked not to be identified because the information was private.
OpenGov, which gives cities tools to manage budgets and resources, was valued at $750 million in 2021, according to data provider Pitchbook.
Bloomberg Markets
By Jennah Haque
July 27, 2022