Forecast5 Analytics Makes Second Purchase to Boost Education Support...

Mergers and Acquisitions

Forecast5 Analytics Makes Second Purchase to Boost Education Support Software Suite

Aug 22, 2019

Forecast5 Analytics, a Naperville, Ill.-based provider of support software to school districts and government agencies, has purchased SchoolFinances.com, a Byron, Minn.-based provider of support and planning tools for Minnesota school districts.

The acquisition will give SchoolFinances.com customers access to Forecast5’s faster, cloud-based technology, according to a statement Thursday. Founded in 1998, SchoolFinances.com serves 180 school districts in Minnesota with services that include multi-year financial projections, enrollment projections and labor costing models for collective bargaining.

Founded in 2012, Forecast5 claims to serve almost 2,000 local government clients in 27 states with services that include financial forecasting, student data analysis and monthly budget performance analysis. The company is partners with over 40 K-12 education associations.

In May, Forecast5 bought Public Finance Resources, a financial forecasting services provider for Ohio governments. PFR serves over 300 public school districts. Last September, Forecast5 received an investment from private equity firm Riverwood Capital of over $60 million.

This isn’t the first budgeting services acquisition this year. In March, Allovue bought Equiday to help districts decide how to disburse dollars to schools.

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