Essentially, Power Almanac enables subscribers to prospect a comprehensive list of local governments, with a data structure that allows precise targeting of specific decision-making personas rather than title-based data.
Its features include the ability to identify purchasing intent and surface insights, thus enhancing marketing for the public-sector ecosystem as well as providing data-driven strategic planning tools, increased reach, stronger lead generation, and enhanced CRM services.
The full integration of Power Almanac into GovExec's portfolio is expected to accelerate the ability of contractors to segment data, generate more leads in the sales and marketing process, and win more business.
GovExec initially made a strategic investment in the 11-year-old Power Almanac last June, with the ability to increase its investment over time. Terms of the deal were not disclosed.
The deal was completed with financial support from GovExec's owner, the mid-market private-equity firm Growth Catalyst Partners.
The acquisition is GovExec's 12th since March 2020, when Growth Catalyst Partners acquired a controlling interest in GovExec.
The transaction comes just more than two months after the company acquired Forecast International, a subscription-based market intelligence provider for the aerospace and defense industries.
Nearly all the acquisitions by Washington, D.C.-based GovExec are research and data-related businesses. Most of the acquisitions have come in the last 13 months.
“Working with the Power Almanac team over the last nine months has shown us the potential of deeper contact information tied to state and local opportunities,” GovExec CEO Tim Hartman said, adding that the combination of its intent data with Power Almanac’s data will enable clients to grow leads, go to market faster, and increase revenue.
Ron Mester, Power Almanac’s founder and CEO, said the deal will fuel growth in the company's database, and provide value to its subscriber base.