Forecast5 Analytics has agreed to buy Columbus-based Public Finance Resources, the leading provider of financial forecasting services for Ohio local governments. Forecast5, a national leader in decision support software for the public sector, plans to use the strategic acquisition to serve schools in Ohio and across the nation.
The terms of the transaction were not disclosed.
The entire PFR team will join Forecast5, which has 1,800 local government clients in 26 states. The Forecast5 headquarters will continue to be based in Naperville, Ill. A new office will be opened in Columbus to meet the needs of school leaders in the state.
PFR helps more than 300 public school districts produce the state of Ohio’s required biannual five-year forecasts.
“Our team found a perfect fit in Forecast5 and we are excited to start this new chapter of serving our clients … and new clients, together,” PFR partner and new Forecast5 Senior Vice President Ernie Strawser said in a statement. “We can now take advantage of the robust platform Forecast5 has built and provide more comprehensive solutions with more powerful software tools and cutting-edge data analytics that will empower CFOs to serve their communities at an even higher level.”