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Accel-KKR buys Springbrook Software

Accel-KKR LLC, which invests in middle-market software and IT-enabled companies, acquired Springbrook Software Inc.

The acquisition is a carve-out transaction from Accela Inc., which offers cloud-based solutions for governments.

Springbrook provides cloud-based finance and administration software to more than 800 North American local governments and municipalities. The company is behind the CivicPay utility billing solution.