M&A Deal Summary

Spectrum Equity Acquires VBA

On August 14, 2023, private equity firm Spectrum Equity acquired internet software and services company VBA for 156M USD

Acquisition Highlights
  • This is Spectrum Equity’s 37th transaction in the Internet Software and Services sector.
  • This is Spectrum Equity’s 7th largest (disclosed) transaction.
  • This is Spectrum Equity’s 89th transaction in the United States.
  • This is Spectrum Equity’s 2nd transaction in Wisconsin.

M&A Deal Summary
Date 2023-08-14
Target VBA
Sector Internet Software and Services
Buyer(s) Spectrum Equity
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 156M USD

Target

VBA

Germantown, Wisconsin, United States
VBA provides cloud-based benefits administration software for third-party administrators, health plans, and ancillary payers. VBA's secure, scalable solutions provide critical information in a timely manner, positively impacting member outcomes while reducing administrative costs. VBA is based in Germantown, Wisconsin.

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Buyer(S) 1

Buyer

Spectrum Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 8.2B USD
Size Mega
Type Sector Focused
DESCRIPTION

Spectrum Equity Management L.P. is a private equity investor focused on service businesses. Spectrum specifically targets established businesses in the media, communications, IT, information, and business services industries. The Firm looks to commit $25 to $150 million of equity capital per transaction and focuses on opportunities throughout North America and Western Europe. Prospective transaction situations include leveraged buyouts, recapitalizations, acquisition financings, and secondary purchases. Spectrum Equity Investors was formed in 1994 and has offices in Boston, Massachusetts and Menlo Park, California.

DEAL STATS #
Overall 101 of 102
Sector (Internet Software and Services) 37 of 37
Type (Buyout (LBO, MBO, MBI)) 15 of 15
State (Wisconsin) 2 of 2
Country (United States) 89 of 89
Year (2023) 2 of 3
Size (of disclosed) 7 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-01 Netcraft

London, United Kingdom

Netcraft specializes in cybercrime detection and disruption, combining cutting-edge technology with decades of experience to protect organizations of all sizes from digital threats and attacks. Its mission is to detect and disrupt cybercrime at scale through constant innovation, extensive automation, and unique insight, delivering a safer online experience for everyone. Netcraft was founded in 1994 and is based in London, United Kingdom.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-22 Animoto

New York, New York, United States

Animoto is an online video creation service which enables consumers, professionals and businesses to create and share professional-quality videos from user-selected photos, video clips and music. The company offers both a free version of its service and multiple subscription products and is available on the web and mobile devices via Animoto's iPhone app. Animoto was formed in 2005 and is based in New York City.

Sell -
Mergr

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