M&A Deal Summary

Vista Equity Partners and PSG Acquire LogicMonitor

On April 17, 2018, private equity firm Vista Equity Partners and growth capital firm PSG acquired internet software and services company LogicMonitor from PSG

Acquisition Highlights
  • This is Vista Equity Partners’ 28th and PSG’s 7th transaction in the Internet Software and Services sector.
  • This is Vista Equity Partners’ 84th and PSG’s 17th transaction in the United States.
  • This is Vista Equity Partners’ 10th and PSG’s 7th transaction in California.

M&A Deal Summary

Date 2018-04-17
Target LogicMonitor
Sector Internet Software and Services
Buyer(s) Vista Equity Partners
PSG
Sellers(s) PSG
Deal Type Secondary Buyout
Advisor(s) William Blair (Financial)
Weil Gotshal & Manges (Legal)

Target

LogicMonitor

Santa Barbara, California, United States
LogicMonitor is an automated SaaS-based IT performance monitoring platform that provides the end to end visibility and actionable data needed to manage sophisticated on-premise, hybrid, and cloud infrastructures. LogicMonitor was established in 2007 and is based in Santa Barbara, California.

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Buyer(S) 2

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 90 of 153
Sector: Internet Software and Services M&A 28 of 51
Type: Secondary Buyout M&A Deals 21 of 39
State: California M&A 10 of 17
Country: United States M&A 84 of 141
Year: 2018 M&A 3 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-17 PeopleAdmin

Austin, Texas, United States

PeopleAdmin, Inc. is a provider of cloud-based talent management solutions for the education and government markets. PeopleAdmin’s software enables more than 700 clients to streamline the hiring process, onboard new employees, efficiently manage positions and employee performance, develop compliant, defensible audit trails, and utilize industry-leading reporting and metrics. The Company’s integrated talent management suite, SelectSuite®, includes applicant tracking, faculty search committee management, position management, and onboarding and performance management. PeopleAdmin solutions are rapidly deployed, easy-to-use and supported through a world-class customer service organization.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-23 Allocate Software

Richmond, United Kingdom

Allocate Software is a provider of specialist workforce optimisation, organisational flow improvement, governance, risk & compliance software focused on helping our customers manage large, multi-skilled workforces in complex, fast changing environments. Allocate Software was established in 1991 and is based in Richmond, United Kingdom.

Buy -
Buyer

PSG

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2014
PE ASSETS 14.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

PSG is a growth equity investment firm focused on the software sector. The Firm looks to partner with software and technology-enabled service companies to capitalize on opportunities and accelerate growth. PSG looks to leverage its network and best practice knowledge developed from its history of investing, to implement and execute strategies on guiding companies to the next level. PSG was established in 2014 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 17 of 130
Sector: Internet Software and Services M&A 7 of 50
Type: Secondary Buyout M&A Deals 3 of 9
State: California M&A 7 of 15
Country: United States M&A 17 of 91
Year: 2018 M&A 7 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-08 Inhabit IQ

Knoxville, Tennessee, United States

Inhabit IQ is a collective of tech-forward products serving the residential, commercial and vacation rental management industries. The company provides end-to-end solutions for property management companies in the multifamily, single family residential, student housing, affordable housing, and commercial markets, serving more than 5 million units and customers. Inhabit IQ is a suite of in-class SaaS solutions that includes accounting, CRM, rent payment processing, background screening, and renters insurance software products. Inhabit IQ was founded in 2016 and is based in Knoxville, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-01 Validity

Boston, Massachusetts, United States

Validity is a provider of data integrity and compliance offerings that thousands of organizations worldwide rely on to trust their data. With highly-valued products including demandTools, dupeBlocker, and peopleImport, Validity is empowering organizations worldwide to make better decisions that drive more leads, close more deals, and confidently plan for continued growth. Validity was founded in 2018 and is based in Boston, Massachusetts.

Buy -

Seller(S) 1

SELLER

PSG

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2014
PE ASSETS 14.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

PSG is a growth equity investment firm focused on the software sector. The Firm looks to partner with software and technology-enabled service companies to capitalize on opportunities and accelerate growth. PSG looks to leverage its network and best practice knowledge developed from its history of investing, to implement and execute strategies on guiding companies to the next level. PSG was established in 2014 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 1 of 20
Sector: Internet Software and Services M&A 1 of 9
Type: Secondary Buyout M&A Deals 1 of 3
State: California M&A 1 of 3
Country: United States M&A 1 of 14
Year: 2018 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-08 Inhabit IQ

Knoxville, Tennessee, United States

Inhabit IQ is a collective of tech-forward products serving the residential, commercial and vacation rental management industries. The company provides end-to-end solutions for property management companies in the multifamily, single family residential, student housing, affordable housing, and commercial markets, serving more than 5 million units and customers. Inhabit IQ is a suite of in-class SaaS solutions that includes accounting, CRM, rent payment processing, background screening, and renters insurance software products. Inhabit IQ was founded in 2016 and is based in Knoxville, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-01 Validity

Boston, Massachusetts, United States

Validity is a provider of data integrity and compliance offerings that thousands of organizations worldwide rely on to trust their data. With highly-valued products including demandTools, dupeBlocker, and peopleImport, Validity is empowering organizations worldwide to make better decisions that drive more leads, close more deals, and confidently plan for continued growth. Validity was founded in 2018 and is based in Boston, Massachusetts.

Buy -