M&A Deal Summary

Vista Equity Partners Acquires Applause

On August 23, 2017, private equity firm Vista Equity Partners acquired software company Applause from Berlin Technologie Holding

Acquisition Highlights
  • This is Vista Equity Partners’ 30th transaction in the Software sector.
  • This is Vista Equity Partners’ 76th transaction in the United States.
  • This is Vista Equity Partners’ 5th transaction in Massachusetts.

M&A Deal Summary

Date 2017-08-23
Target Applause
Sector Software
Buyer(s) Vista Equity Partners
Sellers(s) Berlin Technologie Holding
Deal Type Secondary Buyout
Advisor(s) Goldman Sachs (Financial)
Latham & Watkins (Legal)

Target

Applause

Framingham, Massachusetts, United States
Applause is a provider of customer-driven digital testing and user feedback software for digital experiences across Web, mobile and IoT. The Company’s technology platform and managed global community of over 300,000 on-demand DX experts deliver authentic, real-world human input at every phase of software development. Applause was founded in 2007 and is headquartered in Framingham, Massachusetts.

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Buyer(S) 1

Buyer

Vista Equity Partners

Austin, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 100.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.

Vista Equity Partners is a mega-sized asset management firm focused on private equity, public equity, credit, and other strategies. The Firm's private equity group looks to invest in and acquire software and technology enabled services companies. Specific areas of interest include software, software-as-a-service (SaaS), technology-enabled business services, and technology-enabled information services. Vista can commit up to $700 million per transaction and will consider a variety transaction situations, including management/leveraged buyouts, growth or acquisition financings, recapitalizations or restructurings, spinouts, and take privates. Vista Equity Partners was formed in 2000 and is based in Austin, Texas.


DEAL STATS #
Overall 83 of 149
Sector (Software) 30 of 59
Type (Secondary Buyout) 19 of 35
State (Massachusetts) 5 of 17
Country (United States) 76 of 137
Year (2017) 11 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-16 SecureLink

Austin, Texas, United States

SecureLink engages in managing secure third-party access and remote support for both enterprise companies and technology providers. SecureLink serves over 400 customers and 30,000 organizations worldwide. SecureLink was founded in 2003 and is based in Austin, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-29 EAB

Washington, District of Columbia, United States

EAB is a provider of best practices research, student success management software and data-enabled enrollment solutions to the not-for-profit higher education and K-12 markets. The Company’s solutions help institutions increase enrollment yield, balance financial aid with revenue generation, drive higher student retention and success, and implement industry best practices derived from benchmarking and research. EAB was formed in 1983 and is based in Washington, District of Columbia.

Buy $1.6B

Seller(S) 1

DESCRIPTION

Berlin Technologie Holding is a German growth capital firm focused on providing equity and debt capital to growth-stage technology and technology-enabled businesses. The Firm is sector agnostic. In addition to providing capital, Berlin Technologie looks to provide management know how and access to its entrepreneurial partner network to help companies facing strategic or operational challenges. Berlin Technologie Holding was established in 2013 and is headquartered in Berlin, Germany.


DEAL STATS #
Overall 1 of 3
Sector (Software) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-05 Multirotor

Brieselang, Germany

Multirotor provides building flying camera robots and drones for commercial, industrial, and institutional use. Multirotor was founded in 2011 and is based in Brieselang, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-14 Neo Advertising

Hamburg, Germany

Neo Advertising GmbH is involved in providing digital-out-of-home marketing of ad space and full-service digital signage systems. Neo Advertising was founded in 2006 and based in Hamburg, Germany.

Sell -