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 2nd largest (disclosed) transaction.
  • This is Vitruvian Partners’ 4th and Lead Edge Capital’s 9th transaction in the United States.
  • This is Vitruvian Partners’ 2nd 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 Stough Villeneuve Franklin & Hachigian LLP (Legal)

Target

Azul Systems

Sunnyvale, California, United States
website
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

website

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 36 of 42
Sector (Software) 4 of 4
Type (Buyout (LBO, MBO, MBI)) 9 of 10
State (California) 2 of 2
Country (United States) 4 of 5
Year (2020) 1 of 2
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-04 Ebury Partners UK

London, United Kingdom

Ebury Partners UK Ltd. is a global finance specialist operates on a unique worldwide distribution platform underpinned by a data-driven business model and offers best-in-class customer experience and product capabilities. Ebury was formed in 2009 and is based in London.

Sell -
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

website

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

DEAL STATS #
Overall 12 of 19
Sector (Software) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 3 of 3
State (California) 4 of 8
Country (United States) 9 of 14
Year (2020) 1 of 4
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-08 Bumble

Austin, Texas, United States

Bumble is a women-first dating application and social community that creates empowering connections in love (Bumble Date), life (Bumble BFF), and work (Bumble Bizz). Bumble was founded in 2014 and is part of the MagicLab family of companies, which also owns Badoo, an international dating app.

Buy $3.0B
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