VC-backed Bonfire to be acquired by U.S. SPAC for $140 mln
Bonfire Interactive Ltd, a Waterloo-based public sector sourcing technology provider, has agreed to be acquired by GTY Technology Holdings Inc (Nasdaq: GTYH) for about $140 million (US$108 million). The deal, expected to close in Q1 2019, will see Bonfire merge with five other platforms, creating a listed North American software company focused on the government sector. Bonfire was founded in 2012 CEO Corry Flatt and CTO Alex Millar. Last year, the company closed an $11 million Series A financing led by Battery Ventures and joined by Crosslink Capital and Spider Capital. GTY, a U.S. special purpose acquisition company (SPAC), raised US$552 million in its initial public offering in 2016.
12 September 2018•4 mins read
