Private-equity fund Vista Equity Partners has agreed to acquire educational software maker Pluralsight Co., Ltd.
The two companies said in a statement confirming a previous report by The Wall Street Journal that the deal valued Purralsite at $ 20.26 per share, or $ 3.5 billion including debt.
Based in Farmington, Utah, Pluralsight is a cloud-based online education platform for software developers that sells to both businesses and individuals.
Private-equity companies like Vista were already focusing on business software providers with a recurring revenue model before the growing interest in companies that could easily reach employees and students remotely.
In March, Vista’s rival Thomas Bravo LP was an educational software company, Instructure Inc. Was closed to the public in a transaction of about $ 2 billion.
Based in Austin, Texas, Vista is a pioneer in software investment, managing over $ 73 billion in assets across multiple strategies. The deal with Pluralsight shows the company’s progress after CEO Robert Smith approved tax evasion in October and agreed to pay $ 139 million as part of a non-indictment deal. Will be proof of.
Vista co-founder, president and lead deal maker Brian Sheth left the company after a settlement last month.
Vista announced on November 30 that it will acquire a majority stake in customer relationship software company Gainsight Inc. in a transaction valuing the company at $ 1.1 billion. Earlier that month, it announced a majority investment in Pipedrive, another manufacturer of customer relationship management software, valued at $ 1.5 billion.
Qatalyst Partners advises Pluralsight and Wilson Sonsini Goodrich & Rosati is a legal adviser. For Vista, Morgan Stanley is a financial adviser and Kirkland & Ellis LLP is a legal adviser.
Write to Cara Lombardo (firstname.lastname@example.org) and Miriam Gottfried (Miriam.Gottfried@wsj.com)
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It was published as “Vista Equity to Buy Software Company” in the print version on December 14, 2020.
Vista Equity Partners agrees to purchase software maker Pluralsight
Source link Vista Equity Partners agrees to purchase software maker Pluralsight