Private-equity fund Vista Equity Partners is approaching an agreement to acquire educational software maker Pluralsight. Co., Ltd.
According to people familiar with the matter.
People said the deal could be announced on Sunday if the negotiations didn’t collapse. The market value of Pluralsight is approximately $ 2.8 billion.
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.
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Vista Equity Partners is approaching a deal to buy software maker Pluralsight
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