The deal was first announced on April 29 and was approved by GTY shareholders on June 30, the companies said in a joint release published Thursday.
Under the terms of the deal, GTY shareholders will receive $6.30 in cash for each share of common stock that they own.
With the merger’s completion, GTY will now operate as a privately held company and will no longer trade on the stock market.
Each public warrant that was outstanding and unexercised before the deal’s closing will be exercisable for $0.71 apiece covered by a public warrant through Aug. 6.
GTY provides cloud-based platforms for local and governments, education and health care organizations through its six business units: Bonfire, CityBase, eCivis, OpenCounter, Questica and Sherpa. The company’s cloud-based tools support public sector organizations in the areas of procurement, grant management, permitting, payments and budgeting.
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