Afternoon Coffee: Bonfire Merging with Govtech Platforms, Walmart Looks South of the Border, More (Sad) Volkswagen News

AdobeStock/Ivan Kruk

E-sourcing provider Bonfire is merging with five ‘Govtech’ SaaS/cloud platforms to form a new publicly traded company dedicated to the digital transformation of the public sector, according to the recent press release. GTY Technology Holdings Inc. is acquiring the provider for $108 million and merging it with five other entities with the hope of getting more public spend to flow through the cloud. “Only five percent of public-sector IT spending is on cloud systems, and it’s crazy that it’s that low,” said Bonfire CEO Corry Flatt, speaking to the Financial Post. “Every other industry, that number is almost an order of magnitude larger.”

Expect more coverage on the deal from Spend Matters and Public Spend Forum in the coming days. (See more related coverage of the vendor below.)

Hurricane Florence + Tariffs = Expensive Rebuild?

Reports of rebuild preparations before the storm even began hitting the mid-Atlantic coast indicate that President Trump's tariffs could make things worse after the disaster hits. The prices of drywall, lumber and steel — all commodities that have had import tariffs imposed upon them — may make rebuild efforts much more expensive for residents and businesses.

Walmart's South-of-the-Border Push

Walmart is snapping up Cornershop, Inc., "a leading online marketplace for on-demand delivery from supermarkets, pharmacies and specialty food retailers in Mexico and Chile," according to the news release. This bolsters the retail giant's e-commerce push in Latin America, and follows on the heels of similar acquisitions in Asia. The deal is reportedly worth $225 million.

No More VW Beetle

On the heels of news that car giant Volkswagen is using HP technology to print car parts on a production level, it announced that its beloved Beetle is to be no more. The "people's car" will stop production at its Mexico plant next July. "In the wake of the diesel emissions scandal and huge investment in electric vehicles, [VW] says it will look to slim down its model range with a greater focus on family and electric cars," according to the BBC.

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