Regina Garcia
GTY Technology, a cloud software provider to public sector organizations, has purchased online bidding marketplace DemandStar in a strategy to market a full suite of procurement tools to the North American state and local government sectors.
DemandStar will become part of GTY’s Bonfire business that offers software designed to help acquisition teams manage solicitation processes electronically, GTY said Tuesday.
The merged entity is aiming to support more than 1,900 state and local agencies and connect buyers to 50,000 suppliers.
“This acquisition sets the precedent for future mergers and acquisitions initiated by GTY as we continue to focus on expanding the breadth and depth of our portfolio across public administration and civic engagement,” said GTY Technology CEO TJ Parass.
The DemandStar purchase comes five months after private investment firm GI Partners completed its acquisition of GTY.
