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Vista Equity Partners Management, LLC

From EverybodyWiki Bios & Wiki


Vista Equity Partners Management, LLC
Private
ISIN🆔
IndustryPrivate equity
Founded 📆2000; 25 years ago (2000)
Founder 👔
Headquarters 🏙️,
Austin, Texas
,
US
Number of locations
5
Area served 🗺️
Key people
Members
Number of employees
🌐 Websitevistaequitypartners.com
📇 Address
📞 telephone

Vista Equity Partners (Vista) is an American investment firm focused on financing and forwarding software, data and technology-enabled startup businesses.[2] Vista has invested in hundreds of companies, including Misys, Ping Identity, and Marketo.

The company has offices in several cities, including Austin, Texas; New York, New York; and San Francisco, California.[3][4][5]

History[edit]

Vista Equity Partners was founded in 2000 by American businessman and investor Robert F. Smith, who serves as chairman and CEO. Vista opened its first office in San Francisco in 2000.[6] In November 2008, the company closed a funding round for its first institutional fund with a total of $1.3 billion raised.[7]

In 2010, Brian N. Sheth was promoted to president and awarded the title of co-founder of the firm. He served in this role until his departure in 2020.[8][9]

In 2011, the company opened an office in Austin, Texas.[6] Vista added several private equity funds and credit funds to its portfolio,[10][11][12] including its first fund, the Vista Credit Opportunities Fund, which raised $196 million.[12][13] During that time, Vista opened several funds that specifically target middle-market companies[14] and emerging technology companies.[15] The company also has a permanent capital investment fund, Vista Equity Partners Perennial, which focuses on growing vertical market software companies.[16][17]

In 2018, Vista was named the top software investor of the past decade by Pitchbook.[18][19] Also in 2018, Vista's sale of Marketo to Adobe was named Deal of the Year by Buyouts magazine.[20] In 2019, Vista was named Dealmaker of the Year at the PitchBook Private Equity Awards.[21]

As of May 2020, Vista had more than $57 billion in capital commitments.[22] In 2020, Vista joined Diligent Corporation's Modern Leadership Initiative and pledged to create five new board roles among its portfolio companies for racially diverse candidates.[23][24]

On August 3, 2021, Vista's chief operating officer David Breach was announced as president of Vista.[25]

Investments[edit]

In August 2000, Vista invested in SourceNet Solutions, a provider of finance and accounting business process outsourcing services.[26][27] Between 2001 an 2005, Vista invested in several software companies, including BigMachines, a provider of product configuration software,[28] and Aspect Communications, a contact center technology company,[29] among others.[6] In 2005, Vista invested in MDSI Mobile Data Solutions.[30]

In 2006, Vista invested in Reynolds and Reynolds, an auto technology company.[31] The following year, Vista acquired Indus International, which it later merged with MDSI Mobile Data Solutions to form Ventyx, Inc.[30] That year, the company also invested in SirsiDynix, a library software company.[32][33] In 2008, Vista acquired P2 Energy Solutions Inc, a software company that helps oil and gas producers keep track of drilling leases.[34] The following year, the company acquired SumTotal Systems from Accel Partners and Kohlberg Kravis Roberts,[35][36] as well as MicroEdge from Advent Software.[37] In 2011, the firm acquired multiple companies, including Sage Healthcare, an electronic health records company,[38] which it renamed Vitera Healthcare Solutions.[39]

Between 2012 and 2013, Vista acquired companies including Bullhorn, Inc. a CRM software provider;[40][41] Misys, a British software company;[42] Websense;[43][44][45] and Active Network, Inc, an online event registration service.[46][47] Between 2014 and 2015, Vista acquired Automated Insights, a software company specializing in natural-language generation;[40] Main Street Hub, a social-media company;,[48] PowerSchool, a provider of educational technology, and TIBCO Software,[49] a company that specializes in big data and software integrations, among others.[50]

In 2016, Vista acquired Cvent for $US 1.65 billion [51]and announced agreements to acquire Marketo, a marketing automation software company,[52] and Ping Identity, a single sign-on digital security company.[53] The company invested in Granicus[54] and Vivid Seats that same year.[55] In 2017, Vista acquired several software companies, including NAVEX Global.[56] That year, the company also invested in Upserve, a restaurant software provider, (WSJ, 2017) and Market Track.[57]

In 2018, Vista acquired Apptio, a cloud-based business management software,[58] and entered into an agreement to acquire Mindbody.[59] That year, Vista invested in several other companies, including Wrike, a provider of project management software.[60] In 2019, Vista bought a majority stake in Acquia,[61] and completed its first IPO when it took Ping Identity public.[62] Also in 2019, Vista purchased Sonatype, a cybersecurity, open-source automation company[63] and Accelya, a technology provider for the airline industry.[16] In 2020, Vista acquired Tripleseat, a web-based sales and event management company,[64] and purchased a 2.32% stake in Jio Platforms.[65]

In November 2020 Vista acquired CRM-Software provider Pipedrive for $1.5 Billion.[66] In the same month, Vista also acquired Customer Success company Gainsight for $1.1 Billion. [67]

In April 2021, Vista completed its acquisition of Pluralsight for $22.50 per share. [68]

In September 2021, Vista acquired Blue Prism for £1.095 billion ($1.5 billion USD). Vista announced they intended to merge Blue Prism into Tibco.[69]

Divestments[edit]

In December 2004, Vista sold SourceNet Solutions to Mellon Financial Corp.[27]

Between 2010 and 2013, Vista sold several companies, including Ventyx to ABB Group,[30] BigMachines to Oracle,[70] and P2 Energy Solutions to Advent International Corp.[71] In September 2014, Vista announced the sale of MicroEdge to Blackbaud.[72] In 2015, the company sold Websense to Raytheon.[73]

Between 2015 and 2020, Vista divested other companies, including selling BullHorn, Inc to Insight Venture Partners,[74] selling parts of Active Network to Global Payments Inc.,[75] and selling NAVEX Global to BC Partners.[76] During this time, Vista also sold SirsiDynix to ICV Partners,[33] and Main Street Hub to GoDaddy.[77] In September 2018, Vista announced it would sell Marketo to Adobe Systems.[78]

Philanthropy[edit]

In September 2017, Vista and their companies pledged $1 million to assist the Akshaya Patra Foundation in delivering meals to Indian school children.[79] In 2019, Robert F. Smith committed to eliminate the student loan debt of the Morehouse College Class of 2019.[80] He paid $34 million to cover the students' loans and the loans of their parents for their studies.[80][81]

References[edit]

  1. ↑ Weisman, Aly (28 July 2015). "A tech titan married a Playboy model in a wildly lavish wedding ceremony". Business Insider UK. So who exactly is the couple behind the lavish wedding weekend. Retrieved 7 August 2018.
  2. ↑ Davis, Scott (2017-01-25). "Blackhawk Network Holdings, Inc. (HAWK) Shares Bought by Vista Equity Partners Management LLC". WKRB News. Retrieved 2017-03-14.
  3. ↑ Staff, American-Statesman. "Austin's Vista Equity Partners raises $850 million software fund". Austin American-Statesman. Retrieved 2020-07-21.
  4. ↑ "Vista Equity founder Robert F. Smith earns Dealmaker of the Year for breaking fundraising records and easing student debt". Mergers & Acquisitions. 2020-04-02. Retrieved 2020-07-21.
  5. ↑ "Contact Us". Vista Equity Partners. Retrieved 2020-07-21.
  6. ↑ 6.0 6.1 6.2 Vardi, Nathan. "Richer Than Oprah: How The Nation's Wealthiest African-American Conquered Tech And Wall Street". Forbes. Retrieved 2020-07-21.
  7. ↑ Dealbook (2008). "Vista Equity Raises $1.3 Billion for New Fund". DealBook. Retrieved 2020-07-21.
  8. ↑ "Brian N Sheth, Vista Equity Partners: Profile and Biography". Bloomberg.com. Retrieved 2020-09-06.
  9. ↑ "Vista Equity Partners Announces Departure of President Brian N. Sheth". www.yahoo.com. Retrieved 2021-09-28.
  10. ↑ Cooper, Miriam Gottfried and Laura (2018-07-09). "Billionaire's Secret Buyout Formula: 110 Instructions and an Intelligence Test". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-07-21.
  11. ↑ Cooper, Laura (2019-09-05). "WSJ News Exclusive | Vista Equity Raises $16 Billion for Latest Tech Buyout Fund". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-07-21.
  12. ↑ 12.0 12.1 Witkowsky, Chris (2019-03-29). "Vista Equity eyes up to $2 bln for next credit pool". PE Hub. Retrieved 2020-07-21.
  13. ↑ Cooper, Laura (2017-05-02). "Vista Equity Doubles Down on Debt With Second Credit Fund". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-07-21.
  14. ↑ Witkowsky, Chris (2019-10-05). "Vista launches next mid-market fund with new co-head". Buyouts. Retrieved 2020-07-21.
  15. ↑ Cronin, Mike (July 11, 2019). "Vista Equity raises $850M to invest in 'smaller' tech companies". Austin Business Journal.
  16. ↑ 16.0 16.1 "Why Vista Equity Partners Is Acquiring Accelya". Pulse 2.0. 2019-11-22. Retrieved 2020-07-21.
  17. ↑ "Miami travel pricing tech firm Farelogix is acquired for undisclosed price". Miami Herald.
  18. ↑ "US PE's top 7 software investors of the past decade | PitchBook". pitchbook.com. Retrieved 2020-07-21.
  19. ↑ Beltran, Luisa (2018-12-17). "Private equity plunges into software; Vista Equity is top buyer: Moody's". PE Hub. Retrieved 2020-07-21.
  20. ↑ Witkowsky, Chris (2019-03-18). "Deal of the Year Awards Intro 2019". Buyouts. Retrieved 2020-07-21.
  21. ↑ "2019 PitchBook Private Equity Awards". finance.yahoo.com. Retrieved 2020-07-21.
  22. ↑ "India's Reliance strikes third unit stake deal, raising $8 billion in two weeks". Reuters. 2020-05-08. Retrieved 2020-07-21.
  23. ↑ Gara, Antoine. "Inside The Massive New Effort To Get Minorities On Corporate Boards". Forbes. Retrieved 2020-11-23.
  24. ↑ "Modern Governance Requires Modern Leadership". diligent.com. Retrieved 2020-11-23.
  25. ↑ Kellaher, Colin (3 August 2021). "Vista Equity Partners Names David Breach President". Unknown parameter |url-status= ignored (help)
  26. ↑ "SourceNet slips away to Aggieland". www.bizjournals.com. Retrieved 2020-07-21.
  27. ↑ 27.0 27.1 "Mellon completes outsource firm dbuy". www.bizjournals.com. Retrieved 2020-07-21.
  28. ↑ Melanie Austria Farmer (March 19, 2001). "BigMachines reels in $29 million". CNET. Archived from the original on 2012-10-26. Retrieved 2021-10-23.
  29. ↑ "Shareholder files suit to stop Aspect sale to Concerto". Boston Business Journal. Retrieved 2020-07-21.
  30. ↑ 30.0 30.1 30.2 "ABB to buy U.S. software company Ventyx for over $1 billion". Reuters. 2010-05-05. Retrieved 2020-07-21.
  31. ↑ Staff, T. S. C. "Reynolds & Reynolds Buyout". TheStreet. Retrieved 2020-07-21.
  32. ↑ "SirsiDynix Switches from Vista Equity to ICV | PitchBook". pitchbook.com. Retrieved 2020-07-21.
  33. ↑ 33.0 33.1 "ICV Partners Acquires SirsiDynix from Vista Equity". Wall Street Journal. 2015-01-07. ISSN 0099-9660. Retrieved 2020-07-21.
  34. ↑ Dezember, Ryan (2013-10-07). "Advent to Buy P2 Energy Solutions". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-07-21.
  35. ↑ "SumTotal Chooses Rival Bid From Vista". The New York Times. May 27, 2009. Retrieved November 1, 2013.
  36. ↑ Kang, Jaewon. "Blackbaud to Snatch MicroEdge for $160M". TheStreet. Retrieved 2020-07-21.
  37. ↑ "Advent Software to sell MicroEdge unit to Vista Equity Partners". www.bizjournals.com. Retrieved 2020-07-21.
  38. ↑ "Vista Equity Buys Sage Software Healthcare for $320 Million". Bloomberg.com. 2011-09-22. Retrieved 2020-09-06.
  39. ↑ "Vista wraps up Sage Healthcare deal, renames company and appoints new CEO". www.bizjournals.com. Retrieved 2020-07-21.
  40. ↑ 40.0 40.1 Ingrid Lunden (June 14, 2013). "Software Recruitment Giant Bullhorn Acquired By Vista Equity Partners For A Price In The Lower Nine Figures". Tech Crunch. Retrieved November 1, 2013.
  41. ↑ Kyle Alspach (June 14, 2013). "Bullhorn acquired by private equity firm for 9 figures; IPO still a goal". Boston Business Journal. Retrieved November 1, 2013.
  42. ↑ Scott, Mark (2012). "Vista Equity Partners to Buy Misys for $2 Billion". DealBook. Retrieved 2020-07-21.
  43. ↑ Jolie O'Dell (May 20, 2013). "Websense, publicly traded since 2000, goes private in $906M buyout". Venture Beat. Retrieved October 31, 2013.
  44. ↑ Steven E.F. Brown (June 25, 2013). "Vista Equity Partners wraps up acquisition of Websense". San Francisco Business Times. Retrieved October 31, 2013.
  45. ↑ Sharon Terlep and Dana Cimilluca (May 20, 2013). "Vista Equity Partners to Buy Websense". Wall Street Journal. Retrieved October 31, 2013.
  46. ↑ Hillary Canada (May 20, 2013). "Vista Equity Strikes Another $1 Billion Take-Private Deal". Money Beat. Wall Street Journal. Retrieved October 31, 2013.
  47. ↑ "Vista Equity Partners to acquire Active Network". San Francisco Chronicle. September 30, 2013. Retrieved October 31, 2013.
  48. ↑ "GoDaddy Acquires Main Street Hub". Wall Street Journal. 2018-01-24. ISSN 0099-9660. Retrieved 2020-07-21.
  49. ↑ "Vista Equity Partners Completes Acquisition of TIBCO Software". TIBCO Software Inc. Retrieved 2020-12-02.
  50. ↑ "Vista Equity to merge PowerSchool, PeopleAdmin with Onex investment: sources". Reuters. 2018-04-16. Retrieved 2020-07-21.
  51. ↑ "After months of government scrutiny, $1.65B Cvent acquisition is finalized".
  52. ↑ Gagliordi, Natalie. "Marketo is acquired by Vista Equity Partners for $1.79 billion". ZDNet. Retrieved 2020-07-21.
  53. ↑ "Ping shapes new identity after $600 million acquisition". TechCrunch. Retrieved 2020-07-21.
  54. ↑ Chuang, Tamara (2016-08-18). "Vista Equity buys another Denver tech firm, Granicus". The Denver Post. Retrieved 2020-07-21.
  55. ↑ "GTCR buys stake in ticket reseller Vivid Seats". Crain's Chicago Business. 2017-05-16. Retrieved 2020-07-21.
  56. ↑ Tan, Gillian (15 October 2014). "Vista Equity Partners Emerges From Private-Equity Shadows" – via www.wsj.com.
  57. ↑ Cooper, Laura (2017-06-29). "Market Track Seals First Deal as Vista Portfolio Company". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-07-21.
  58. ↑ Cooper, Laura (2018-11-11). "Vista Reaches Deal to Buy Software Firm Apptio for $1.94 Billion". The Wall Street Journal. Retrieved 2019-01-08.
  59. ↑ "Vista Equity Partners to buy Mindbody in a $1.9 billion deal". Reuters. 2018-12-24. Retrieved 2020-07-21.
  60. ↑ "Private equity firm buys majority stake in San Jose software startup Wrike". www.bizjournals.com. Retrieved 2020-07-21.
  61. ↑ "Vista Is Buying Majority Stake in Acquia in $1 Billion Deal". bloomberg.com. 2019-09-24. Retrieved 2019-09-25.
  62. ↑ Cooper, Laura (2019-09-19). "Ping Identity Listing Marks IPO Milestone for Vista". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-07-21.
  63. ↑ "Cybersecurity firm Sonatype acquired by Vista Equity". TechCrunch. Retrieved 2020-07-21.
  64. ↑ Cooper, Laura (2020-03-04). "Vista Equity Portfolio Company Gather Technologies Buys Tripleseat". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-07-21.
  65. ↑ "Vista Equity Partners to invest $1.5B in India's Reliance Jio Platforms". TechCrunch. Retrieved 2020-07-21.
  66. ↑ "Sales CRM Pipedrive takes majority investment from Vista Equity Partners to reach unicorn status". TechCrunch. Retrieved 2020-11-13.
  67. ↑ "Vista acquires Gainsight for $1.1B, adding to its growing enterprise arsenal". TechCrunch. 2020-11-30.
  68. ↑ "Vista Equity Partners Completes Acquisition of Pluralsight". SeekingAlpha. Retrieved 2021-04-06.
  69. ↑ "RPA industry consolidation continues with sale of Blue Prism to Vista for £1.095B". TechCrunch. 28 September 2021.
  70. ↑ Julie Bort (October 23, 2013). "Source: Oracle Paid Over $400 Million For BigMachines To Grab More Salesforce Customers". Business Insider. Retrieved October 31, 2013.
  71. ↑ "Private-equity firm buying P2 Energy Solutions". www.bizjournals.com. Retrieved 2020-07-21.
  72. ↑ Wursthorn, Michael (2014-09-02). "Vista, Bregal Sell MicroEdge to Blackbaud". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-07-21.
  73. ↑ "Xconomy: Websense Sold to Raytheon for $1.9B, Fulfilling Vista Equity's Plan". Xconomy. 2015-04-20. Retrieved 2020-07-21.
  74. ↑ "Staffing-tech firm Bullhorn sold for second time in five years". www.bizjournals.com. Retrieved 2020-07-21.
  75. ↑ "4 years after taking it private, Vista Equity to sell parts of software maker for $1.2 billion". www.bizjournals.com. Retrieved 2020-07-21.
  76. ↑ "Navex Global changes PE hands in deal north of $1.2B". www.bizjournals.com. Retrieved 2020-07-21.
  77. ↑ "GoDaddy is acquiring social media marketing platform Main Street Hub for $125M". TechCrunch. Retrieved 2020-07-21.
  78. ↑ Novet, Jordan (2018-09-20). "Adobe confirms it's buying Marketo for $4.75 billion". Cnbc.com. Retrieved 2018-11-19.
  79. ↑ "Vista Equity Partners Companies pledge $1 Million USD to The Akshaya Patra Foundation to deliver millions of meals to Indian school children". Akshayapatra.org. 26 September 2017. Retrieved 8 August 2018.
  80. ↑ 80.0 80.1 Bo Emerson, The Atlanta Journal-Constitution. "Morehouse commencement speaker to pay off Class of 2019's student loans". Ajc.com. Retrieved May 20, 2019.
  81. ↑ Tyko, Kelly. "Billionaire Robert F. Smith's $34 million gift to Morehouse grads includes parent loans". USA TODAY. Retrieved 2020-07-21.

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