Cloud enterprise resource planning provider Acumatica said on May 29 it has signed an agreement to be acquired by Vista Equity Partners, the global investment firm that purchased Avalara in 2022.
Financial terms of the Acumatica/Vista deal weren’t disclosed; however, Bloomberg reported Thursday that the deal values Acumatica at about $2 billion, including debt.
- Related article: Acquisition of Avalara Finalized
Vista will acquire Acumatica from EQT AB, a Stockholm, Sweden-based private equity firm that made its initial investment in Bellevue, WA-based Acumatica in 2019. According to a media release, EQT will no longer be an investor in the company.
The transaction is subject to customary conditions and approvals and is expected to be completed in the third quarter of this year.
Founded in 2008, Acumatica is regarded as one of the leading ERP platforms for small and midsized businesses. Built on an open, flexible architecture, the platform delivers artificial intelligence-driven, real-time visibility across the business, enabling customers to make faster and more strategic business decisions. Acumatica offers industry-specific functionality tailored to specific sectors, including manufacturing, distribution, construction, retail, and professional services.
Acumatica currently serves more than 10,000 customers worldwide through ingrained relationships with value-added resellers, original equipment manufacturers, and alliance partners.
“Acumatica specializes in enabling small and midsized businesses to realize their unique growth ambitions. Our customer-driven product innovation has established Acumatica as a trusted ERP solution for forward-thinking, growing mid-market organizations,” Acumatica CEO John Case said in a statement. “Our partnership with EQT has been instrumental in our rapid and sustained growth, delivering AI-powered performance, flexibility, efficiency, and innovation to our customers.
“Our partnership with Vista not only marks a significant milestone in Acumatica’s history but also is a strong endorsement of the real-world value we deliver to the market and our customers,” he added. “Vista’s investment can help power our AI-first product strategy and further strengthen our thriving community of partners, developers, and customers, working together to find better ways to work and redefine business management software for everyone. With Vista’s support and track record of growing software companies, we believe we’re positioned to accelerate product development, deepen partner engagement, and extend our impact.”
Founded in 2000, Austin, TX-based Vista focuses exclusively on teaming with enterprise software, data, and technology-enabled businesses. As of Dec. 31, 2024, Vista had more than $100 billion in assets under management.
“Acumatica is an ascendant, cloud-native ERP platform that has become a leading provider of mission-critical tools that enable small and midsized businesses to run more efficiently and effectively,” Monti Saroya, co-head of Vista’s Flagship Fund and senior managing director, said in a statement. “With its industry-leading, strong partner ecosystem and growing presence in markets embracing cloud-based business technology, we believe Acumatica is well-positioned to lead the shift toward modern, integrated ERP solutions.”
“Acumatica has established a strong market position with differentiated, flexible, and industry-specific ERP solutions, as well as a uniquely dedicated channel of value-added resellers,” added John Stalder, managing director at Vista. “We’re excited to partner with Acumatica and its outstanding community of partners to drive continued growth and product innovation and to deliver even greater value to customers worldwide.”
Moelis & Co. served as financial advisor to Acumatica. Simpson Thacher & Bartlett LLP acted as legal counsel to Acumatica, and Greenberg Traurig LLP served as legal counsel to Vista.
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