ST. PAUL, Minn., Jan. 5 /PRNewswire/ -- GovDelivery, the leading provider of government-to-citizen communications solutions, announced today that Internet Capital Group (Nasdaq: ICGE) has joined with the management team of GovDelivery to buy out all other shareholders of the company.
The ownership change will keep existing GovDelivery management in place while providing the company with additional support and resources to continue to expand its leadership position. GovDelivery retained Craig-Hallum Capital Group LLC as its financial advisor and Faegre & Benson LLP as its legal advisor on this transaction.
GovDelivery, headquartered in St. Paul, Minnesota with offices in Washington, D.C. and London, pioneered the government-to-citizen digital communication market and was an early leader in helping governments embrace software as a service (SaaS) and social media. GovDelivery is now experiencing rapid growth as Government 2.0, which encompasses government's embrace of social media and cloud computing to improve open government and reduce cost, has gone mainstream.
Internet Capital Group (www.internetcapital.com) acquires and builds Internet software companies that drive enterprise productivity and reduce transaction costs. Founded in 1996, ICG devotes its expertise and capital to maximizing the success of its platform companies, which are delivering on-demand software and services worldwide.
"GovDelivery is in a unique position to help our government clients put innovative technologies to work in ways that support each organization's mission," said Scott Burns, CEO and co-founder of GovDelivery. "ICG offers unparalleled expertise in growing software as a service companies and shares our management team's vision for expanding our capabilities and leadership position."
More than half of major U.S. federal agencies use GovDelivery's platform which also is used across state and local government organizations in more than 30 states and in a number of central agencies and local government authorities in the United Kingdom. Government agencies send more than 140 million emails and wireless text message alerts each month through GovDelivery to individuals who choose topics based on their needs and interests. Topics range from updates on local parks and road closures to major national health issues such as the H1N1 outbreak. GovDelivery also helps its government clients push content into social media and promote social media channels. In September of this year, GovDelivery acquired GovLoop, the leading social network for the government community which has now grown to over 20,000 members.
"The continued growth of GovDelivery's client base and the high client renewal rate is a testament of the real value GovDelivery brings to government agencies," said Walter Buckley, CEO of Internet Capital Group. "ICG is partnering with GovDelivery because we recognize that they are the clear leader in delivering innovative software as a service and social media solutions to the public sector market. We are confident we can help GovDelivery continue to build off of its strong foundation and broaden its market presence."
GovDelivery is the leading provider of government-to-citizen communication solutions. GovDelivery's digital subscription management solution provides organizations with a fully-automated, on-demand public communication system. Organizations using GovDelivery provide citizens with better service and access to relevant information by proactively delivering new information through email, mobile text alerts, RSS and social media channels. GovDelivery's clients include the U.S. Departments of Defense, State, Labor, Transportation, Treasury, Homeland Security, Justice, Health and Human Services, state agencies across 30 states, the cities of Washington, D.C., and Minneapolis and hundreds of other organizations across the public sector. GovDelivery is a partner company of Internet Capital Group (Nasdaq: ICGE). For more information, visit www.govdelivery.com.
About Internet Capital Group
Internet Capital Group (www.internetcapital.com) acquires and builds Internet software and services companies that drive business productivity and reduce transaction costs between firms. Founded in 1996, ICG devotes its expertise and capital to maximizing the success of these platform companies, which are delivering on-demand software and service applications to customers worldwide.
Contact: Chris Parente Strategic Communications Group 240-485-1082 firstname.lastname@example.org
SOURCE GovDelivery, Inc.