Vista Equity Partners, the Texas-based private equity firm has acquired web content management and digital experience company Acquia. While the financial details of the deal have not been disclosed by the involved parties but the speculation is that the deal is worth $1 billion. Goldman Sachs acted as an advisor for Acquia in the deal. Goodwin Procter and Kirkland & Ellis were the legal advisors in the deal for Acquia and Vista Equity Partners respectively.
Acquia was founded by Dries Buytaert and Jay Batson in 2007. The company has helped clients like Twitter, Mercedes Benz, Warner Music Group, and Stanford University by offering them solutions for content, community, and commerce. The firm provides developer tools, cloud solutions and global expertise with the help of open-source techniques.
Since its inception, the firm has raised $173.5 million in funding. The backers of the firm include the names like SharesPost Investment Management, Split Rock Partners, Centerview Capital, New Enterprise Associates, North Bridge Venture Partners & Growth Equity, Amazon, Sigma Partners, and others.
Vista Equity Partners' founder and chairman Robert F. Smith commenting on the deal said, “Acquia is leading the way in providing innovative solutions to its customers while, at the same time, giving back to the open-source community.”
Dries Buytaert, the co-founder of Acquia through a blog talked about the deal. He wrote that “This investment should be great news for the Drupal and Mautic communities as we’ll have the right resources to compete against other solutions, and our deep commitment to Drupal, Mautic and Open Source will be unchanged. In fact, we will continue to increase our current level of investment in Open Source as we grow our business."
Image Courtesy : dri.es