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Springbrook Acquires MAGIQ Software to Expand Cloud Offerings; Robert Bonavito Quoted

Springbrook Software seeks to expand its capabilities, service coverage and customer base with the acquisition of MAGIQ Software, a New Zealand-based company that delivers cloud offerings to public sector clients in the country, Australia and the U.S.

Robert Bonavito, CEO of Springbrook Software, said in a statement published Monday the purchase supports the company’s strategy to provide local government agencies with comprehensive and fully integrated cloud-based products and services.

“The MAGIQ Cloud platform complements our own new Cirrus financial cloud platform with new advanced capital budgeting/planning/reporting and document management capabilities,” says Robert Bonavito, CEO of Springbrook Software,” he added.

Cirrus is designed to automate financial operations while providing users with protection against ransomware attacks. The cloud-based platform has Tableau reporting and analytics capabilities and preconfigured report library for information analysis and delivery.

Springbrook has other cloud offerings meant to support finance, human resources, online payments, payroll and utility billing tasks of customers while MAGIQ Software offers a suite of finance modules that are complementary to those of Springbrook’s.

Together, the companies cover almost 1,700 client locations in seven countries, with North America hosting most of their customers.

In January 2020, the Portland, Oregon-based software provider was acquired by private equity firm Accel-KKR from Accela, a cloud technology company.

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