Ascend Capital Group facilitated the acquisition of Interware Development by Avenu, enhancing integrated governmental solutions and positioning both companies for significant market growth.

Information on the Target

Interware Development, a leading provider of dynamic payment solutions, has established itself strongly within the GovTech sector. The company specializes in enabling state and local governments to enhance their operational efficiency by streamlining processes related to permitting, licensing, utilities, and tax revenue collection. By integrating innovative technology with government operations, Interware seeks to reduce friction and improve financial management for public agencies.

In a significant move, Interware has been acquired by Avenu, supplemented by investments from Mill Point Capital. This acquisition marks a strategic step towards creating a more cohesive service offering that combines Interware’s specialized solutions with Avenu’s established sales and marketing capabilities.

Industry Overview in the Target’s Specific Country

The GovTech industry in the United States has experienced rapid growth, driven by an increasing demand for digital transformation within government services. As mun