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Cases & Deals

February 27, 2024

King & Spalding Advises Cox Enterprises in Acquisition of Majority Interest of OpenGov at $1.8 Billion Valuation

King & Spalding client Cox Enterprises is acquiring a majority interest in OpenGov, provider of cloud software for cities, counties and state agencies, in a transaction that values OpenGov at $1.8 billion. Cox, a family-owned provider of communications and automotive services, already held a large minority stake in OpenGov. OpenGov’s management and employees will roll over a significant portion of their equity into the deal, and the company will be run by its existing leadership under the Cox umbrella. OpenGov is the leader in modern cloud software for cities, counties, state agencies, and special districts. With a mission to power a more effective and accountable government, OpenGov serves thousands of public sector leaders and their organizations. OpenGov is built exclusively for the unique budgeting and planning, accounting, permitting and licensing, procurement, and asset management needs of the public sector. Cox Enterprises is dedicated to empowering people to build a better future for the next generation. Cox is a leader in the broadband, automotive, and media industries, as well as a leading investment platform with strategic positions in emerging technologies driving the future of agriculture, renewable energy, health care, and public sector software. Headquartered in Atlanta, Georgia, Cox is a global company with $23 billion in annual revenues and a proud 125-year history. The King & Spalding corporate team advising Cox Enterprises on the purchase consisted of Rahul Patel, Linda Lorenat, Will Jordan, Umbar Malik, and John Dean.