i3 seals $40M deal

The team at i3 Verticals last week acquired a Michigan company that markets software to streamline workflows and focuses on courts and government agencies.

Nashville-based i3 has paid $40 million in cash for ImageSoft Inc., which is based in the Detroit area and was founded about two decades ago. The company works with agencies in more than a dozen states as well as insurance companies across the United States and in Canada.