Tuesday , September 27 2022

Vista acquires software company Apptio for $ 194 million


Vista Equity Partners, a technology-focused private investment company, concluded a software company acquisition contract


According to people familiar with the matter, it is unofficial to $ 1.9 billion.

Under the terms of the agreement, Apptio shareholders will receive $ 38, offering a premium of 53% to the closing price of $ 24.85 on Friday. The Wall Street Journal reported Sunday that negotiations are imminent.

The purchase price is about two months ago, below Apptio 's record high of $ 41.23. Its share has recently fallen as part of a wider slip in technology stocks. At the end of October, Apptio reported that its third quarter earnings were further tightened, including weaker-than-expected bills.

Apptio provides the tools to track the software and services that enterprise technology buyers use to manage costs. The company

Single lever


JP Morgan Chase

& Co.

Cisco Systems

Washington Bellevue, Wash., Raised $ 96 million two years ago for $ 16 a share.

Sunny Gupta, co-founder and chief executive officer, and his family are the largest shareholders of Apptio and hold stocks with more than 46% voting power, according to a power of attorney submitted in April. Since then, Apptio has reduced Gupta's control by converting voting shares into common stock. Some of the venture capital companies that initially supported Apptio, including the Madrona Venture Group, sold a significant stake this year.

The deal comes amid market volatility and technology-driven private equity firms raising the avalanche of capital for trading. Headquartered in Austin, Texas, Vista is the newest Vista CommVault partner, with a goal of $ 16 billion in enterprise software. The Wall Street Journal reported that it had raised $ 11.4 billion by the end of September.

The purchase of Apptio is Vista's first personal transaction, and shopping in the open market this year is not a stranger. Last year, we paid about $ 1.55 billion to acquire the education division of software and consulting firm Advisory Board Co.,

UnitedHealth Group

Bought its health care unit.

Two years ago, Vista closed Marketo, a marketing services software company, for about $ 1.75 billion. It sold Marketo.


Earning $ 4.75 billion this year. Vista could generate more than $ 1.5 billion in value from the sale of advertising software provider Mediaocean LLC, the newspaper reported.

Write to Laura Cooper at [email protected] and Jay Greene at [email protected]

Software Buyer Nearouts for Software Maker & # 39; on November 12, 2018.

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