Strategic Shift Expands Presence to All 50 States and Canada
HERNDON, VA, August 6, 2018 – Avenu Insights & Analytics (Avenu), a portfolio company of Mill Point Capital, has entered into an agreement to acquire the assets and operations of the Local and Municipal Constituent Government Software Solutions business of Conduent Incorporated (NYSE: CNDT). The purchase positions Avenu as a leading provider of solutions used by jurisdictions to manage service delivery across multiple agencies.
The sale, which primarily includes software solutions for Conduent’s local and municipal government clients, gives Avenu a combined customer base of nearly 3,000 in the 50 states and Canada. These jurisdictions use a portfolio of more than 50 products consisting of:
- Government Records Management (land/vital records)
- Software solutions for managing criminal courthouse and juror administrative functions
- Property tax collection, and property assessment software solutions
- Unclaimed property collections management
- Pension administration software applications
- Stand-alone infrastructure IT managed services
“Local governments face extraordinary and growing challenges including pension pressures, infrastructure costs, and changing business environments and market participants. These factors, combined with increasing service requirements of their constituents, create formidable obstacles to planning, funding, and service delivery,” says Avenu CEO Paul Colangelo. “Avenu has the knowledge, expertise and commitment to provide these services to local governments, empowering them to better serve their constituents.”
Comments Avenu Chairman Craig Adler, “We’ve reached this milestone because we have listened to our customers and made the investment so that we can continue providing relevant revenue enhancement and administrative solutions to local governments.”
The transaction, which is subject to certain regulatory approval and customary closing conditions, is expected to close during the third quarter of 2018.