Riverside Partners, a Boston-based private equity firm, has completed its acquisition of a majority equity interest in AMCAD, an enterprise software company dedicated to providing software solutions and services to the public sector including state, county and local governments.
The terms of the transaction have not been disclosed.
Based in Herndon, Virginia, AMCAD provides software solutions to the broader government system including courts, jails, prosecutors, probation, parole, county clerks, recorders offices, and other government offices. AMCAD has over 25 years of history of operating within the state and local government markets. The company’s current offerings include its integrated justice platform, a platform for government records and document management, and various data access technologies.
"I am incredibly excited to have Riverside Partners join with me and my team at AMCAD in our efforts to invest in our products to better serve our customers and to continue to grow AMCAD into an even more successful company," says Visagar M Shyamsundar, chief executive officer of AMCAD. "Our demonstrated expertise within the public sector through our records and data management solutions and our justice software platform has established AMCAD as the preferred vendor for government customers. I am confident that, with Riverside Partners, AMCAD will be even better positioned to serve our customers, broaden our sales coverage, and accelerate the pace of innovation and development of our already market leading technology solutions to the government services sector."
"We are pleased to partner with AMCAD at this exciting time and bring with us with the capital and resources to assist in executing AMCAD’s growth strategy," says Ian Blasco, a general partner at Riverside Partners. "AMCAD is an outstanding company that is in front of significant opportunity, and Visagar and his team are well positioned to capture additional market share across the various government markets. AMCAD’s proven track record, outstanding suite of software products and services, and industry focused approach to enterprise solutions will continue to drive greater success going forward."
