Vista Equity Partners

Vista Equity Partners (Vista) is an American investment firm focused on financing and forwarding software, data and technology-enabled startup businesses.[3] Vista has invested in hundreds of companies, including Misys, Ping Identity, and Marketo.

Vista Equity Partners Management, LLC
Private
IndustryPrivate equity
Founded2000; 20 years ago (2000)
Headquarters,
US
Number of locations
5
Key people
Websitevistaequitypartners.com

The company has offices in several cities, including Austin, Texas; New York, New York; and San Francisco, California.[4][5][6][7]

HistoryEdit

Vista Equity Partners was founded in 2000 by American businessman and investor Robert F. Smith, who serves as Chairman and CEO. Brian N. Sheth is the co-founder of the company and serves as its president.[8] The company opened its first office in San Francisco that year.[9] In November 2008, Vista closed a funding round for its first institutional fund with a total of $1.3 billion raised.[10] In 2011, the company opened an office in Austin, Texas.[11]

Over the years, Vista has added several flagship equity funds and credit funds to its portfolio,[12][13][14] including its first fund, the Vista Credit Opportunities Fund, which raised $196 million.[14][15] During that time, Vista opened several funds that specifically target middle-market companies[16] and emerging technology companies.[17] The company also has a permanent capital investment fund, Vista Equity Partners Perennial, which focuses on growing vertical market software companies.[18][19]

In 2018, Vista was named the top software investor of the past decade by Pitchbook.[20][21] Also in 2018, Vista's sale of Marketo to Adobe was named Deal of the Year by Buyouts magazine.[22] In 2019, Vista was named Dealmaker of the Year at the PitchBook Private Equity Awards.[23]

As of May 2020, Vista had more than $57 billion in capital commitments.[24] 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.[25][26]

InvestmentsEdit

In August 2000, Vista invested in SourceNet Solutions, a provider of finance and accounting business process outsourcing services.[27][28] Between 2001 and 2005, Vista invested in several software companies, including BigMachines, a provider of product configuration software,[29][30] and Aspect Communications, a contact center technology company,[31] among others.[32] In 2005, Vista invested in MDSI Mobile Data Solutions.[33]

In 2006, Vista invested in Reynolds & Reynolds, an auto technology company.[34] The following year, Vista acquired Indus International, which it later merged with MDSI Mobile Data Solutions to form Ventyx, Inc.[33] That year, the company also invested in SirsiDynix, a library software company.[35][36] In 2008, Vista acquired P2 Energy Solutions Inc, a software company that helps oil and gas producers keep track of drilling leases.[37] The following year, the company acquired SumTotal Systems from Accel Partners and Kohlberg Kravis Roberts,[38][39] as well as MicroEdge from Advent Software.[40] In 2011, the firm acquired multiple companies, including Sage Healthcare, an electronic health records company,[41] which it renamed Vitera Healthcare Solutions.[42]

Between 2012 and 2013, Vista acquired several companies, including Bullhorn, Inc. a CRM software provider;[43][44] Misys, a British software company;[45] Websense;[46][47][48] and Active Network, Inc, an online event registration service.[49][50] Between 2014 and 2015, Vista acquired Automated Insights, a software company specializing in natural-language generation;[43] Main Street Hub, a social-media company;[51], PowerSchool, a provider of educational technology, and TIBCO Software[52], a company that specializes in big data and software integrations, among others.[53]

In 2016, Vista announced agreements to acquire Marketo, a marketing automation software company,[54] and Ping Identity, a single sign-on digital security company.[55] The company invested in Granicus[56] and Vivid Seats that same year.[57] In 2017, Vista acquired several software companies, including NAVEX Global.[58] That year, the company also invested in Upserve, a restaurant software provider, (WSJ, 2017) and Market Track.[59]

In 2018, Vista acquired Apptio, a cloud-based business management software,[60] and entered into an agreement to acquire Mindbody.[61] That year, Vista invested in several other companies, including Wrike, a provider of project management software.[62] In 2019, Vista bought a majority stake in Acquia,[63] and completed its first IPO when it took Ping Identity public.[64] Also in 2019, Vista purchased Sonatype, a cybersecurity, open-source automation company[65] and Accelya, a technology provider for the airline industry.[66] In 2020, Vista acquired Tripleseat, a web-based sales and event management company,[67] and purchased a 2.32% stake in Jio Platforms.[68]

November 2020 Vista acquired CRM-Software provider Pipedrive for a 1.5 billion dollars.[69]

DivestmentsEdit

In December 2004, Vista sold SourceNet Solutions to Mellon Financial Corp.[70]

Between 2010 and 2013, Vista sold several companies, including Ventyx to ABB Group,[33] BigMachines to Oracle,[71] and P2 Energy Solutions to Advent International Corp.[72] In September 2014, Vista announced the sale of MicroEdge to Blackbaud.[73] In 2015, the company sold Websense to Raytheon.[74]

Between 2015 and 2020, Vista divested other companies, including selling BullHorn, Inc to Insight Venture Partners,[75] selling parts of Active Network to Global Payments Inc.,[76] and selling NAVEX Global to BC Partners.[77] During this time, Vista also sold SirsiDynix to ICV Partners,[36] and Main Street Hub to GoDaddy.[78] In September 2018, Vista announced it would sell Marketo to Adobe Systems.[79]

PhilanthropyEdit

In September 2017, Vista and their companies pledged $1 million to assist the Akshaya Patra Foundation in delivering meals to Indian school children.[80] In 2019, Robert F. Smith committed to eliminate the student loan debt of the Morehouse College Class of 2019.[81] He paid $34 million to cover the students' loans and the loans of their parents for their studies.[81][82]

ReferencesEdit

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External linksEdit