Infotech®, a leading provider of infrastructure construction software solutions, announced its acquisition by Diversis Capital Management, LP, a Los Angeles-based private equity firm specializing in software and technology-enabled services. Founded in 1977, Infotech has been a prominent private company in the infrastructure construction industry for nearly five decades. With increased federal funding for infrastructure, the demand for digital delivery solutions is rising. Through this acquisition, Infotech will gain access to Diversis’s resources and expertise, accelerating product innovation to benefit the tens of thousands of construction professionals who use AASHTOWare Project™ and Infotech’s suite of bidding and construction management tools.
“We’ve been integral to construction management for almost 50 years through our work as the AASHTOWare Project contractor, serving nearly all state departments of transportation, as well as local agencies and engineering firms across the country,” said Tom Rothrock, Infotech Co-Founder. “We’ve built a great company with great products and services, and Diversis will now help us accelerate our speed to market, enhance our solutions, and increase value to better serve current customers while also reaching a broader audience.”
Infotech will continue as the official contractor for AASHTOWare Project and recently signed its 40th consecutive annual contract with AASHTO. Will McClave will remain as Infotech CEO.
“Diversis is excited to enter the rapidly growing infrastructure construction technology space and believe with Infotech we have found the perfect partner,” said Kevin Ma, Co-Founder and Managing Partner of Diversis. “Building on Infotech’s long-standing mission-critical role in infrastructure construction, while leveraging our experience in project management software, tools for frontline workers, and technology solutions serving state and federal government, we’re excited to partner with Will and his team to continue to support the needs of AASHTO and its member agencies and drive product innovations that benefit all stakeholders in this foundational industry.”
Diversis has a strong track record of partnering with founder-run companies to help scale and extend market leadership. The Diversis team also has extensive experience in the government technology space, having invested in multiple software businesses that serve state and local governments.
Today is a monumental day for Infotech and our customers, and we look forward to supporting our users with the same relationship-focused mindset we have always prioritized,” added Will McClave. “As we enter the next generation of Infotech, Diversis will provide the strategic expertise and capital needed to take our products to the next level faster, and we are incredibly excited about what is to come.
Union Square Advisors LLC served as exclusive financial advisor and Driver, McAfee, Hawthorne & Diebenow served as legal counsel to Infotech for the transaction.
