M&A Deal Summary

Vitruvian Partners and Lead Edge Capital Acquire Azul Systems

On March 4, 2020, private equity firm Vitruvian Partners and growth capital firm Lead Edge Capital acquired software company Azul Systems for 340M USD

Acquisition Highlights
  • This is Vitruvian Partners’ 4th and Lead Edge Capital’s 2nd transaction in the Software sector.
  • This is Vitruvian Partners’ and Lead Edge Capital’s 3rd largest (disclosed) transaction.
  • This is Vitruvian Partners’ 5th and Lead Edge Capital’s 16th transaction in the United States.
  • This is Vitruvian Partners’ 3rd and Lead Edge Capital’s 4th transaction in California.

M&A Deal Summary
Date 2020-03-04
Target Azul Systems
Sector Software
Buyer(s) Vitruvian Partners
Lead Edge Capital
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 340M USD
Advisor(s) Gunderson Dettmer (Legal)

Target

Azul Systems

Sunnyvale, California, United States
Azul Systems builds fully supported, certified standards-compliant Java runtime solutions that bring the power of Java to the enterprise, cloud, and embedded/IoT. Zing is a JVM designed for a wide variety of enterprise Java applications and workloads that may require any combination of low latency, high transaction rates, large working memory, improved query performance and/or consistent response times. Zulu is Azul’s family of certified, freely available open source builds of OpenJDK with a variety of flexible commercial support options, available in configurations for ISVs, enterprises, and on-premise or Cloud deployments, as well as custom and embedded/IoT devices. Azul Systems was founded in 2002 and is based in Sunnyvale, California.

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Buyer(S) 2

Buyer

Vitruvian Partners

London, United Kingdom
Category Private Equity Firm
Founded 2006
PE ASSETS 8.5B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Vitruvian Partners is an independent private equity firm that specializes in middle-market buyouts, growth buyouts and growth capital investments in the UK and elsewhere in Northern Europe. Vitruvian looks for companies that are 'operating in dynamic situations, where there is an opportunity to build strategic value'. The Group's target investment size is £25 to £150 million in transactions valued up to £500 million. Sectors of interest include business services, consumer services, financial services, life science, healthcare services, media, technology, communications, and internet software. Vitruvian Partners was formed in 2006 and is based in London.

DEAL STATS #
Overall 42 of 67
Sector (Software) 4 of 5
Type (Buyout (LBO, MBO, MBI)) 9 of 12
State (California) 3 of 3
Country (United States) 5 of 11
Year (2020) 1 of 2
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-12 BHG Group

Malmö, Sweden

BHG Group is a fast-growing European online platform for DIY and Home Furnishing (“Home Improvement”) with a clear market-leading position in the Nordics. It operates approximately 100 online sites comprising bygghemma.se, trademax.se, chilli.se, nordicnest.se, and furniturebox.se, as well as approximately 70 showrooms. BHG Group was formed in 2006 and is based in Malmö, Sweden.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-08 Scrive

Stockholm, Sweden

Scrive is a cloud-based platform that provides agreement lifecycle automation powered by electronic signatures and identification solutions. More than 3,000 customers worldwide rely on Scrive to sign agreements with and identify their own customers and partners, driving security, compliance, data quality, and customer experience. Scrive was formed in 2010 and is headquartered in Stockholm, Sweden.

Buy -
Buyer

Lead Edge Capital

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2009
PE ASSETS 5.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Lead Edge Capital is a growth capital firm focused on software, internet, consumer, and tech-enabled services companies. The Firm has no geographic preferences and will consider both private and public company investments. Leading Edge's investment size is $10 to $200 million. Lead Edge Capital was established in 2009 and is headquartered in New York City.

DEAL STATS #
Overall 21 of 46
Sector (Software) 2 of 7
Type (Buyout (LBO, MBO, MBI)) 3 of 5
State (California) 4 of 13
Country (United States) 16 of 37
Year (2020) 2 of 8
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 LiveView Technologies

Orem, Utah, United States

LiveView Technologies is an Enterprise Cloud Software vendor providing a Platform-as-a-Service (PaaS) Cloud solution for remote video and analytic data gathering, processing, and delivery. LVT is in the business of securely delivering actionable intelligence from the Edge to the Cloud enabling secure yet convenient access and push notifications to authorized end-users who in turn can take action on that intelligence. LiveView Technologies is based in Orem, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-18 Copado Solutions

Madrid, Spain

Copado Solutions is a provider of DevOps platform for Salesforce. Copado Solutions was founded in 2013 and is based in Madrid, Spain.

Buy -
Mergr

Product

Company

Legal