Vista Equity Partners

Vista Equity Partners (Vista) is an American investment firm focused on financing and forwarding software, data and technology-enabled startup businesses.[3] Vista has invested in hundreds of companies, including Misys, Ping Identity, and Marketo.

Vista Equity Partners Management, LLC
Private
IndustryPrivate equity
Founded2000 (2000)
FounderBrian Sheth, Robert F. Smith 
Headquarters
Austin, Texas
,
US
Number of locations
5
Key people
Websitevistaequitypartners.com

The company has offices in several cities, including Austin, Texas; New York, New York; and San Francisco, California.[4][5][6][7]

History

Vista Equity Partners was founded in 2000 by American businessman and investor Robert F. Smith, who serves as Chairman and CEO. Brian N. Sheth is the co-founder of the company and serves as its president.[8] The company opened its first office in San Francisco that year.[9] In November 2008, Vista closed a funding round for its first institutional fund with a total of $1.3 billion raised.[10] In 2011, the company opened an office in Austin, Texas.[11]

Over the years, Vista has added several flagship equity funds and credit funds to its portfolio,[12][13][14] including its first fund, the Vista Credit Opportunities Fund, which raised $196 million.[14][15] During that time, Vista opened several funds that specifically target middle-market companies[16] and emerging technology companies.[17] The company also has a permanent capital investment fund, Vista Equity Partners Perennial, which focuses on growing vertical market software companies.[18][19]

In 2018, Vista was named the top software investor of the past decade by Pitchbook.[20][21] Also in 2018, Vista's sale of Marketo to Adobe was named Deal of the Year by Buyouts magazine.[22] In 2019, Vista was named Dealmaker of the Year at the PitchBook Private Equity Awards.[23]

As of May 2020, Vista had more than $57 billion in capital commitments.[24]

Investments

In August 2000, Vista invested in SourceNet Solutions, a provider of finance and accounting business process outsourcing services.[25][26] Between 2001 and 2005, Vista invested in several software companies, including BigMachines, a provider of product configuration software,[27][28] and Aspect Communications, a contact center technology company,[29] among others.[30] In 2005, Vista invested in MDSI Mobile Data Solutions.[31]

In 2006, Vista invested in Reynolds & Reynolds, an auto technology company.[32] The following year, Vista acquired Indus International, which it later merged with MDSI Mobile Data Solutions to form Ventyx, Inc.[31] That year, the company also invested in SirsiDynix, a library software company.[33][34] In 2008, Vista acquired P2 Energy Solutions Inc, a software company that helps oil and gas producers keep track of drilling leases.[35] The following year, the company acquired SumTotal Systems from Accel Partners and Kohlberg Kravis Roberts,[36][37] as well as MicroEdge from Advent Software.[38] In 2011, the firm acquired multiple companies, including Sage Healthcare, an electronic health records company,[39] which it renamed Vitera Healthcare Solutions.[40]

Between 2012 and 2013, Vista acquired several companies, including Bullhorn, Inc. a CRM software provider;[41][42] Misys, a British software company;[43] Websense;[44][45][46] and Active Network, Inc, an online event registration service.[47][48] Between 2014 and 2015, Vista acquired Automated Insights, a software company specializing in natural-language generation;[41] Main Street Hub, a social-media company;[49] and PowerSchool, a provider of educational technology, among others.[50]

In 2016, Vista announced agreements to acquire Marketo, a marketing automation software company,[51] and Ping Identity, a single sign-on digital security company.[52] The company invested in Granicus[53] and Vivid Seats that same year.[54] In 2017, Vista acquired several software companies, including NAVEX Global.[55] That year, the company also invested in Upserve, a restaurant software provider, (WSJ, 2017) and Market Track.[56]

In 2018, Vista acquired Apptio, a cloud-based business management software,[57] and entered into an agreement to acquire Mindbody.[58] That year, Vista invested in several other companies, including Wrike, a provider of project management software.[59] In 2019, Vista bought a majority stake in Acquia,[60] and completed its first IPO when it took Ping Identity public.[61] Also in 2019, Vista purchased Sonatype, a cybersecurity, open-source automation company[62] and Accelya, a technology provider for the airline industry.[63] In 2020, Vista acquired Tripleseat, a web-based sales and event management company,[64] and purchased a 2.32% stake in Jio Platforms.[65]

Divestments

In December 2004, Vista sold SourceNet Solutions to Mellon Financial Corp.[66]

Between 2010 and 2013, Vista sold several companies, including Ventyx to ABB Group,[31] BigMachines to Oracle,[67] and P2 Energy Solutions to Advent International Corp.[68] In September 2014, Vista announced the sale of MicroEdge to Blackbaud.[69] In 2015, the company sold Websense to Raytheon.[70]

Between 2015 and 2020, Vista divested other companies, including selling BullHorn, Inc to Insight Venture Partners,[71] selling parts of Active Network to Global Payments Inc.,[72] and selling NAVEX Global to BC Partners.[73] During this time, Vista also sold SirsiDynix to ICV Partners,[34] and Main Street Hub to GoDaddy.[74] In September 2018, Vista announced it would sell Marketo to Adobe Systems.[75]

Philanthropy

In September 2017, Vista and their companies pledged $1 million to assist the Akshaya Patra Foundation in delivering meals to Indian school children.[76] In 2019, Robert F. Smith committed to eliminate the student loan debt of the Morehouse College Class of 2019.[77] He paid $34 million to cover the students' loans and the loans of their parents for their studies.[77][78]

gollark: Yes, Cezanne is apparently monolithic.
gollark: AMD do that? I thought all the APU stuff was one die for better power consumption.
gollark: I don't disagree that in practice you're probably fine using popular cryptographic stuff, I just don't like people wrongly saying that things are "mathematically proven".
gollark: Fascinating.
gollark: Obviously nobody has publicly disclosed how to break them (except with quantum computers), but that doesn't mean it's not possible, and the NSA hires a lot of mathematicians.

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