GTY Technology Holdings, a provider of cloud software solutions for the public sector, is to be acquired by private investment firm GI Partners (GI).

GTY Technology Holdings, a provider of cloud software solutions for the public sector, is to be acquired by private investment firm GI Partners (GI).

Upon completion of the transaction, GTY will become a privately held company.
 
Under the terms of the agreement, GTY shareholders will receive upon consummation of the transaction $6.30 in cash for each share of GTY common stock that they hold. The purchase price provides substantial value to GTY’s existing shareholders and represents a 123% premium over the closing share price on April 28, 2022, the last full trading day prior to the transaction announcement, and a 57% premium over the 90-day volume-weighted average closing share price through 28 April, 2022.