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Cox Enterprises buys majority stake in government software firm OpenGov

J. Scott Trubey, The Atlanta Journal-Constitution on

Published in Business News

Cox Enterprises on Tuesday announced it has taken a majority stake in California-based software company OpenGov, which helps local and state governments modernize their technology and improve transparency and constituent services.

OpenGov makes software that helps government agencies with their accounting, asset management, budgeting, procurement and permitting. The company also builds portals for publishing of government data and for agencies to fulfill requests for public records.

Financial terms of the investment were not publicly disclosed, but the companies said the deal values OpenGov at $1.8 billion. OpenGov has about 700 employees nationwide.

Cox, which has its headquarters in Sandy Springs, is one of the nation’s largest privately held companies. Its core businesses include broadband provider Cox Communications, Cox Automotive and media companies including The Atlanta Journal-Constitution.

“Powering more effective and accountable government is an inspiring mission, and OpenGov delivers a better experience for governments, residents and businesses alike,” Cox Chairman and CEO Alex Taylor said in a news release.

Zac Bookman, co-founder and CEO of OpenGov, said the Cox investment will help the company “accelerate product development, advance our mission, and improve communities for generations.”

 

Cox was founded more than 125 years ago by James M. Cox when he purchased what became the Dayton Daily News. Cox, who later became the governor of Ohio, bought newspapers in Atlanta and other cities and Cox Enterprises evolved over the years into one of the nation’s biggest family-owned companies.

Cox has diversified its holdings, making acquisitions in clean energy, electric vehicles and the EV supply chain, sustainable agriculture and media.

Andrew Davis, Cox senior vice president of strategy and investment, said Cox was introduced to OpenGov nearly four years ago as the company looked to make investments in public sector software and Cox made a small initial investment.

In 2022, Cox expanded its stake when the company helped OpenGov acquire the tech firm Cartegraph.

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