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.