GTY Technology’s Bonfire Business Unit Expands Presence in Government Procurement Through Acquisition of Leading Public Sector Bidding Marketplace, DemandStar
Summary
Bonfire offers a robust eProcurement solution to manage the entire end-to-end sourcing and procurement processes and workflows and is trusted by more than 650 government agencies across North America. In the future, Bonfire and DemandStar businesses will merge to offer a complete portfolio of cloud-based procurement solutions to both state and local public agencies of any size or requirement. Together, DemandStar and Bonfire hold a customer footprint of over 1,900 state and local buying agencies – one of the largest in North America – and will offer government buyers access to a combined network of over 500,000 suppliers. “Bonfire is one of the most trusted eProcurement solution providers in the market and by joining forces we can deliver even more value to public agencies.” Government procurement teams face a tremendous amount of pressure due to a multitude of new challenges. The firm has assets under management totaling $35 billion and invests on behalf of leading institutional investors around the world through its private equity, real estate, and data infrastructure strategies.
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