M&A Deal Summary

Vista Equity Partners Acquires Gainsight

On November 30, 2020, private equity firm Vista Equity Partners acquired software company Gainsight from Summit Partners, Insight Partners and Battery Ventures

Acquisition Highlights
  • This is Vista Equity Partners’ 48th transaction in the Software sector.
  • This is Vista Equity Partners’ 109th transaction in the United States.
  • This is Vista Equity Partners’ 14th transaction in California.

M&A Deal Summary

Date 2020-11-30
Target Gainsight
Sector Software
Buyer(s) Vista Equity Partners
Sellers(s) Summit Partners
Insight Partners
Battery Ventures
Deal Type Secondary Buyout
Advisor(s) Qatalyst Partners (Financial)
Wilson Sonsini Goodrich & Rosati (Legal)

Target

Gainsight

San Francisco, California, United States
Gainsight provides a platform that helps companies of all sizes and industries drive durable growth through customer-led and product-led strategies. The Company offers a powerful set of customer success, product experience, and community engagement solutions that together enable businesses to scale efficiently, create alignment, and put the customer at the heart of innovation. Gainsight was formed in 2009 and is based in San Francisco, California.

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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 120 of 149
Sector (Software) 48 of 59
Type (Secondary Buyout) 28 of 35
State (California) 14 of 17
Country (United States) 109 of 137
Year (2020) 7 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-12 Pipedrive

New York, New York, United States

Pipedrive is a CRM platform developed from the salesperson's point of view. Pipedrive is used by sales teams at more than 95,000 companies worldwide. Pipedrive is headquartered in New York and has offices across Europe and in the US. Pipedrive was formed in 2010 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 Upserve

Providence, Rhode Island, United States

Upserve, Inc. is a provider of smart management system for restaurant owners to track key facets of their business in real-time. Upserve is the magic ingredient that helps restaurateurs thrive, putting everything they need in one place. Upserve was founded in 2009 and is headquartered in Providence with additional offices in San Francisco and New York City.

Sell $430M

Seller(S) 3

SELLER

Summit Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1984
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Summit Partners is a private investment and asset management firm focused on venture, growth, credit, and public equity investing. Sectors of interest include business services, communications technology and services, consumer products, energy, financial services, healthcare and life sciences, industrial products, internet/information services, media/entertainment, semiconductors, electronics, and software. Summit Partners is known for having a proactive business development group for sourcing transactions. Summit will consider both minority or majority investment stakes and is willing to commit as little as $10 million or as much as $500 million in combined debt/junior capital per transaction. The Firm's geographic coverage spans North America and Europe. Summit Partners was formed in 1984 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 248 of 286
Sector (Software) 44 of 52
Type (Secondary Buyout) 46 of 60
State (California) 57 of 62
Country (United States) 219 of 246
Year (2020) 7 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-16 Gresb

Amsterdam, Netherlands

Gresb is a provider of standardized and validated Environmental, Social, and Governance (ESG) data to financial markets. Gresb was founded in 2009 and is based in Amsterdam, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 48forty Solutions

Alpharetta, Georgia, United States

48forty Solutions is a whitewood pallet recycler recycling over 90 million pallets annually across its network of 73 company locations and more than 225 network facilities. 48forty serves over 2,700 customers, including manufacturers, distributors, and retailers in the distribution & logistics, food & beverage, packaging, durables, and non-durables industries. 48forty Solutions was formed in 1992 and is based in Alpharetta, Georgia.

Buy -
SELLER

Insight Partners

Investor Investor Investor Investor Investor


Category Venture Capital Firm
Founded 1995
PE ASSETS 80.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Insight Partners is a growth capital investment firm focused on early to later stage investments principally in the software sector. Insight Partners was formed in 1995 and is based in New York, New York.


DEAL STATS #
Overall 25 of 40
Sector (Software) 12 of 18
Type (Secondary Buyout) 11 of 17
State (California) 7 of 11
Country (United States) 23 of 33
Year (2020) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-18 Seated

New York, New York, United States

Seated is a rewards platform helping restaurants drive sales and ultimately thrive. Seated generates demand for restaurants by offering tangible rewards to consumers dining-in, ordering takeout or delivery, and booking private events. Seated was formed in 2017 and is based in New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-04 CoreLogic

Irvine, California, United States

CoreLogic is a provider of property, mortgage and consumer information, analytics, technology and services to businesses. CoreLogic was founded in 1894 and is based in Irvine, California.

Buy $6.0B
SELLER

Battery Ventures

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1983
PE ASSETS 13.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Battery Ventures is a private investment firm focused on opportunities in the technology and related-sectors. Battery will invest at all company stages, from seed and early-stage capital situations to leveraged buyouts, PIPEs, spin outs, rollups and take-privates of established companies. Battery's private equity group focuses on investments in companies with revenue of $5 to $200 million and EBITDA up to $25 million. Battery can commit up to $100 million in equity per transaction. Specific areas of interest include software; IT services and outsourcing; communications components, systems, and services; and financial services and tech-enabled businesses. Battery will consider investments throughout North America, Europe, and Asia. Battery Ventures was formed in 1983 and is headquartered in Menlo Park, California.


DEAL STATS #
Overall 47 of 64
Sector (Software) 16 of 21
Type (Secondary Buyout) 5 of 9
State (California) 10 of 12
Country (United States) 41 of 51
Year (2020) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-09 StoneEagle F&I

Richardson, Texas, United States

StoneEagle F&I provides innovative solutions and legendary customer service to the retail automotive industry. StoneEagle F&I provides industry-leading Metrics reporting, Menu sales tool, and F&I product administration solutions make it possible for users across every facet of the F&I value chain to drive performance, improve efficiency and increase profitability. StoneEagle F&I’s solutions meet the needs of thousands of dealerships, general agencies, F&I product providers, and OEM’s throughout North America. StoneEagle F&I was founded in 1967 and is based in Richardson, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-03 DomainTools

Seattle, Washington, United States

DomainTools is a provider of Internet intelligence that enables security practitioners to proactively defend their organization in a constantly evolving threat landscape. DomainTools was founded in 2004 and is based in Seattle, Washington.

Buy -