GTY Technology Acquires Ion Wave Technologies

BOSTON–(BUSINESS WIRE)–GTY Technology Holdings Inc., a leading provider of cloud-based solutions for the public sector, has acquired Ion Wave Technologies to complement existing GTY eProcurement solutions from Bonfire and DemandStar, cementing its foothold as the fastest growing eProcurement solution provider in North America. In addition, this acquisition enables GTY to expand into a new business category – K-12 education management – ​​with Ion Wave’s SpedTrack solution.

Ion Wave is a leader in government procurement that offers exceptional sourcing software and a network of suppliers for buyers. The solution provides powerful procurement tools designed for government agencies, intuitive and easy-to-use data reporting, and an overall simplified procurement process for government procurement teams. The acquisition also includes Ion Wave’s SpedTrack product, a mission-critical software solution for school districts to manage special education programs. Both Ion Wave and SpedTrack will continue to be offered under the GTY umbrella of products. GTY’s SaaS solutions provide digital tools for administrative workflows spanning grants, permits, procurement, payments and budgeting, all specifically designed for the public sector.

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“Ion Wave has exceptional solutions, an experienced team, and they value customer relationships as much as we do,” said TJ Parass, CEO of GTY Technology. “Under GTY, we are bringing together Ion Wave and Bonfire, two of the best eProcurement companies in North America to create greater value and choice for our customers. This addition both complements and enhances GTY’s product platform for the public sector.”

GTY’s existing eProcurement solution, Bonfire, is a leader in strategic sourcing and procurement software. With tools to support the entire vendor lifecycle (sourcing, contract management and vendor performance), Bonfire goes beyond traditional mechanics of standard procurement suites to facilitate complex decisions. With Bonfire’s acquisition of DemandStar in December 2022, they now maintain a network of over 500,000 suppliers. With Bonfire and Ion Wave working in tandem, GTY will have one of the largest, fastest-growing buyer-supplier networks in North America serving approximately 2,200 agencies and 700,000 suppliers.

“Ion Wave and GTY Technology share a combined passion for empowering the public sector workforce and delivering positive outcomes for communities – this is one of the many reasons we are so excited to join forces,” said Darren Henderson, CEO of Ion Wave.

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Software Equity Group (SEG) served as the exclusive advisor to Ion Wave Technologies.

To learn more about Ion Wave Technologies visit To learn more about SpedTrack visit To learn more about GTY Technology and its portfolio of public sector SaaS companies, visit

GTY Technology Holdings Inc.

GTY Technology (GTY) brings together leading cloud software to deliver modern solutions for state and local governments, educational institutions and healthcare organizations. More than 3,000 agencies across North America leverage GTY solutions to deliver better results for their constituents by improving the way they engage stakeholders and manage their resources. Built for the public sector, the intuitive suite of solutions supports the policies, regulations and compliance requirements unique to the public sector. Public Administration solutions for budgeting (Questica and Sherpa), grant management (eCivis) and procurement solutions for both government buyers and suppliers (Bonfire) and (DemandStar) to modernize the end-to-end procurement process and improve efficiency, transparency and collaboration. Civic Engagement solutions for payments (CityBase) and permits (OpenCounter) deliver efficiencies by improving citizen access and satisfaction. To learn more about the GTY platform and the positive impact it is having on the people and communities it serves visit:

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Ion Wave Technologies

Ion Wave Technologies offers digital SaaS solutions for the public sector, including procurement automation and management of special education programs. Ion Wave’s eProcurement solution was designed to be extremely powerful for buyers while maintaining the simplicity that suppliers need, leading to rapid supplier adoption and robust insights that help procurement professionals make the best sourcing decisions. SpedTrack, Ion Wave’s Special Education management solution, is a fully featured solution designed specifically to help educators simplify special education. For more information visit


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