i3 Verticals Acquires Net Data for $24 Million

i3 Verticals (NASDAQ:IIIV), a company that provides payment and software solutions acquired Northeast Texas Data and Graves Humphries Stahl, together as “Net Data” for $24 million. Net Data provides services for municipal governments for traffic violation, property tax collection and judicial management, among others,

As quoted in the press release:

Greg Daily, CEO of i3 Verticals, commented, “We are excited to announce the completion of the Net Data acquisition, as we continue to expand our Public Sector vertical. We look forward to working with the talented and dedicated Net Data team of 70 employees built over 35 years. With the completion of this transaction, we have acquired new software to offer to our local government customers and we have expanded into an attractive Texas market.”

Net Data provides software and services for municipalities and local governments, primarily within Texas. The software platform provides solutions for judicial management, property tax collection, court records, law enforcement and traffic violations, financial systems, document imaging and other programs critical to the day-to-day business of local governments.

Click here to read the full press release.