GTY Technology Acquires Ion Wave Technologies to Enhance Best-of-Breed eProcurement Offering to Public Sector

GTY will combine resources from Ion Wave and GTY subsidiary, Bonfire, to offer public sector procurement agencies best-of-breed solutions and exceptional customer experience

GTY Technology Holdings Inc. (“GTY”), leading provider of cloud-based solutions for the public sector, has acquired Ion Wave Technologies to complement existing GTY eProcurement solutions from Bonfire and DemandStar, cementing its foothold as the fastest growing eProcurement solution provider in North America. Furthermore, this acquisition enables GTY to expand into a new business category – K-12 education administration – with Ion Wave’s SpedTrack solution.

“Under GTY, we’re bringing together Ion Wave and Bonfire, two of the best eProcurement companies in North America to create greater value and selection for our customers. This addition both complements and enhances GTY’s platform of products for the public sector.”

Ion Wave is a leader in government procurement that offers exceptional sourcing software and a network of suppliers for buyers. The solution provides powerful sourcing tools designed for government agencies, insightful and easy-to-use data reporting, and an overall simplified sourcing process for government procurement teams. The acquisition also includes Ion Wave’s SpedTrack product, a mission-critical software solution for school districts to manage special education programs. Both Ion Wave and SpedTrack will continue to be offered under the GTY umbrella of products. GTY’s SaaS solutions provide digital tools for back-office workflows spanning grants, permits, procurement, payments, and budget, all specifically designed for the public sector.

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“Ion Wave has exceptional solutions, a knowledgeable team, and they value customer relationships as much as we do,” said TJ Parass, CEO of GTY Technology. “Under GTY, we’re bringing together Ion Wave and Bonfire, two of the best eProcurement companies in North America to create greater value and selection for our customers. This addition both complements and enhances GTY’s platform of products for the public sector.”

GTY’s existing eProcurement solution, Bonfire, is a leader in strategic sourcing and procurement software. With tools to support the entire vendor lifecycle (sourcing, contract management, and vendor performance), Bonfire goes beyond traditional mechanics of standard procurement suites to make complex decision-making easy. With Bonfire’s acquisition of DemandStar in December 2022, they now maintain a network of over 500,000 suppliers. With Bonfire and Ion Wave working in tandem, GTY will have one of the largest, fastest growing buyer-supplier networks in North America servicing approximately 2,200 agencies and 700,000 suppliers.

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“Ion Wave and GTY Technology share a combined passion to empower the public sector workforce and bring positive outcomes for communities – this is one of the many reasons we’re so excited to join forces,” said Darren Henderson, CEO of Ion Wave.

Software Equity Group (SEG) served as the exclusive advisor to Ion Wave Technologies.

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