The deal, announced last November, reportedly was valued at $2.5 billion.
The acquisition marks the latest gov tech deal backed by private equity, an ongoing trend that shows no signs of abating.
Civica, founded in 2001, stands as one of the U.K.’s largest software companies, according to Blackstone, which bought the company from Partners Group, another European investment group.
Civica’s products include software for such areas as workforce management, data analysis, financial management and payments, with those tools used by state and local governments, courts, schools and health care.
The company has more than 6,000 customers, according to a statement from Blackstone.
“With digitalization transforming the expectation of public services around the world, Civica creates the software that helps public servants deliver for citizens every day,” said Civica CEO Lee Perkins in that statement. “Blackstone has a long track record of investing in technology and in the U.K., and we look forward to partnering with them as we build on two decades of growth and innovation.”
The completed acquisition not only shows the faith that Blackstone has in the growth strategy of Civica, but that company’s “vision to become a global gov tech champion,” according to a note from Shea & Co., which helped to advise Blackstone on the deal.
Indeed, Jeff Cook, managing director for Shea, said late last year that the deal would lead to more M&A activity on the part of Civica and its “focused entry into the U.S. market.”
