For the second consecutive year, Ascend is honored to be recognized for its expertise in the GovTech market.
WASHINGTON, DC (November 28, 2023) Ascend Capital Group is proud to announce the firm received the 22nd Annual M&A Advisor Information Technology Deal of the Year Award in the $10MM-$50MM category for advising Interware Development in its acquisition by Avenu. The award was presented at the Future of Dealmaking Summit on November 14-15, 2023.
“We are delighted to receive this award, which underscores the importance of our partnerships with clients leading the GovTech market forward,” said Ascend Managing Director DJ Palmer. “It is an honor to be recognized in this competitive environment and have the opportunity to celebrate the outcomes we can generate when our valued clients place their trust in our team.”
The M&A Advisor Awards recognize dealmaking excellence for outstanding transactions, deal teams, and professionals. The M&A Advisor evaluates all deals submitted on their overall profile, challenges, and benefits. Integrating Interware’s dynamic payment solutions with Avenu’s mature sales and marketing framework highlights the importance of unifying solutions under one umbrella, allowing state and local governments to collect permitting, licensing, utility, and tax revenue more efficiently.
“DJ and the Ascend team spent endless hours with our family prior to launching a transaction to understand our collective and individual objectives,” said Sandy Rowe, President & CEO of Interware. “They were knowledgeable and responsive, helping us not just maximize value but find a partner we could feel truly good about taking on our family’s legacy and providing our employees, customers, and products new opportunities to flourish and thrive. The success of this outcome is a direct result of their deep expertise in the GovTech space and, most importantly, in leading us as founders through the very emotional and complex process of selling our business.”
“This was the smoothest transaction and a very strategic deal for Avenu and its customers. Our state and local governments were asking for a payments solution that we could not provide — we were leaving a lot of revenue on the table, not compliant with many RFPs, and, more importantly, missing the opportunity to help citizens engage with their state and local agencies by streamlining processes,” said Avenu CEO Paul Colangelo. “Within six months of partnering with Interware, we’ve closed over 50 new opportunities providing governments with a centralized solution to maximize their efficiency while shaping a more robust citizen experience.”
Ascend congratulates all 2023 M&A Advisor Award winners. View the complete list here.