M&A Deal Summary

Vista Equity Partners Acquires PlanSource

On March 25, 2019, private equity firm Vista Equity Partners acquired internet software and services company PlanSource from Great Hill Partners

Acquisition Highlights
  • This is Vista Equity Partners’ 32nd transaction in the Internet Software and Services sector.
  • This is Vista Equity Partners’ 97th transaction in the United States.
  • This is Vista Equity Partners’ 5th transaction in Florida.

M&A Deal Summary
Date 2019-03-25
Target PlanSource
Sector Internet Software and Services
Buyer(s) Vista Equity Partners
Sellers(s) Great Hill Partners
Deal Type Secondary Buyout

Target

PlanSource

Orlando, Florida, United States
PlanSource is a technology company that automates and simplifies every aspect of employee benefit programs, so employees and HR teams can make smarter, more confident benefits decisions. More than 5 million consumers receive their benefits through the PlanSource platform, which provides the best experience possible for benefits communications, shopping, enrollment, billing, compliance and ongoing administration. PlanSource was founded in 2008 and is based in Orlando, Florida.

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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 106 of 149
Sector (Internet Software and Services) 32 of 50
Type (Secondary Buyout) 25 of 35
State (Florida) 5 of 9
Country (United States) 97 of 137
Year (2019) 3 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-05 Poppulo

Denver, Colorado, United States

Poppulo is a provider of enterprise content management solutions for visual communications. The Company’s enterprise-grade software and data integrations enable customers to deploy and manage visual content and applications on digital displays while integrating real-time data. Poppulo delivers functionality, integrations and services through a cloud management interface, flexible authoring tool, cross-platform support and vertically-tailored applications. Poppulo was founded in 2005 and is based in Denver, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-08 Jebbit

Boston, Massachusetts, United States

Jebbit is a provider of “declared data” capture platform that allows enterprise customers to capture consumer information at scale through a self-service digital experience builder. “Declared data” is first-party information that is willingly and explicitly shared by the consumer and is, therefore, timelier and more accurate than traditional third-party data. Jebbit was founded in 2011 and is based in Boston, Massachusetts.

Buy -

Seller(S) 1

SELLER

Great Hill Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 12.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Great Hill Partners is a private equity firm focused on growth equity and recapitalization investments in well established public and private companies valued put to $1 billion. Great Hill targets companies within consumer services, business services, financial technology, healthcare, internet, logistics, media, communications, technology services, software and transaction processing. The Firm invests in the range of $25 to $500 million per transaction. Great Hill prefers companies located in the US, but will also consider opportunities in Europe and Latin America. Great Hill Partners was formed in 1998 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 42 of 61
Sector (Internet Software and Services) 13 of 21
Type (Secondary Buyout) 6 of 11
State (Florida) 5 of 5
Country (United States) 36 of 51
Year (2019) 3 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-05 Chrome River Technologies

Los Angeles, California, United States

Chrome River Technologies, Inc. is a provider of online expense reporting and automated invoice processing software. Chrome River delivers immediate payback via a “Software as a Service” delivery model that requires no hardware, no software, and no long-term commitment. Chrome River Technologies was established in 2007 and is based in Los Angeles, California.

Sell $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-26 Clearwave

Atlanta, Georgia, United States

Clearwave is a provider of digital check-in, insurance eligibility, and patient payment solutions to health systems and physician practices. Clearwave’s solutions are utilized by an array of healthcare organizations, including hospitals, health systems, over 30 specialties, urgent care, family, and multi-specialty providers to improve operational efficiency. Clearwave was founded in 2004 and is based in Atlanta, Georgia.

Buy -
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