Avenu Completes Acquisition of Conduent's Local and Municipal Constituent Government Software Solutions Business
Company's Solutions to Meet Pent-Up Demand in Public Sector
HERNDON, Va., Sept. 28, 2018 /PRNewswire/ -- Avenu Insights & Analytics (Avenu), a portfolio company of Mill Point Capital, has finalized the previously announced transaction to acquire the assets and operations of the Local and Municipal Constituent Government Software Solutions business of Conduent Incorporated (NYSE: CNDT). With the purchase Avenu has a combined customer base of nearly 3,000 state and local governments in the 50 states and Canada.
The complementary offerings of Avenu and the acquired assets give customers access to a large portfolio of software and services that help them manage and deliver services. Avenu will continue to invest and upgrade the solutions because of the great need for them.
"Citizens expect the same level of service from their governments that they get from the private sector," says Avenu CEO Paul Colangelo. "They want solutions that provide a good user experience and manage the growing need for information. Our research shows there is tremendous need that is not being met, and now we're in a perfect position to take advantage of the opportunity."
Some solutions fall under the category of administration, which includes Government Records Management, Tax & License Administration, Justice, IT Managed Services and Pension Administration. Other solutions are geared toward revenue enhancement and cover compliance auditing and revenue discovery and recovery. These categories and the company's investments align with the industry's call for digital government platforms that can accommodate artificial intelligence, interoperability, and analytics.
"We are focused on the local government market and committed to bringing value unique to this market with speed, flexibility and innovation," adds Louis Schiavone, Jr., president of Avenu's Administration Solutions division.
About Avenu Insights & Analytics
Since 1978, Avenu Insights & Analytics and its legacy companies have helped state and local governments adapt to the changing needs for information management and their impact on service delivery. Avenu's revenue enhancement and administration solutions enable jurisdictions to provide truly digital government that meets expectations of citizens, employees and elected officials. This approach results in more predictable revenue and costs, and allows governments to sustain a high quality of life. For more information, visit www.avenuinsights.com.
About Mill Point Capital
Mill Point Capital is a middle-market private equity firm focused on control-oriented investments in the business services and industrial sectors. The firm works with executive partners to leverage its investment professionals' experience, while providing strategic and operational guidance designed to drive long-term value creation in its portfolio companies. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.
SOURCE Avenu
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