BOSTON–(BUSINESS WIRE)–Sep 24, 2019–
Open digital experience company Acquia today announced it has signed a definitive agreement to receive a majority investment from Vista Equity Partners (“Vista”), a leading investment firm focused on enterprise software, data, and technology-enabled businesses. The partnership with Vista will provide operational expertise to help accelerate Acquia’s growth trajectory as the company continues to scale. Several of Acquia’s existing investors will retain a stake in the Company.
This news follows Acquia’s recent strategic acquisitions of Mautic and Cohesion which have expanded the Company’s offerings to customers. It will enable Acquia to grow its presence in the digital experience platform (DXP) market as it continues to innovate and serve the world’s most ambitious brands. Acquia currently serves more than 30 companies in the Fortune 100. With Vista’s backing, Acquia will maximize recent investments to take on legacy DXP providers and capture new market share. Vista’s portfolio of more than 60 companies and more than 70,000 employees, combined with its operational expertise, provides Acquia access to a vast community of resources, peers, and practice experts who can help to grow and advance Acquia even more.
“Vista shares our belief that the DXP market is ripe for disruption and we are excited to partner with them to accelerate our plans,” said Michael Sullivan, Acquia CEO. “Over 4,000 Acquia customers crave faster innovation, greater agility, and better integrations than legacy marketing cloud providers can deliver. Vista’s support will allow us to invest more in R&D, expand faster, and get products to market quicker while also continuing to give back to the Drupal and Mautic developer communities.”
Acquia’s Open DXP Platform is built on an open source architecture and is informed by the largest independent developer community in Drupal, allowing Acquia to easily fuse disparate data and marketing technologies, automating digital experiences at scale. As marketers work to make customer touchpoints more intimate and impactful — and developers push the boundaries of digital delivery — Acquia’s solutions are powering the next generation of customer experiences.
“The world’s leading and most innovative digital brands understand that their ability to deliver a seamless digital customer experience is essential to their success,” said Robert F. Smith, Founder, Chairman, and CEO of Vista. “Acquia understands this and is leading the way in providing innovative solutions to its customers while, at the same time, giving back to the open source community. We are thrilled to partner with Acquia and believe the company is well-positioned to capitalize on the tremendous opportunity in the DXP marketplace.”
Acquia will continue to operate independently. The transaction is currently expected to close in the coming weeks and is subject to customary closing conditions and regulatory approvals.
Goldman Sachs & Co. LLC acted as the exclusive financial advisor to Acquia, and Goodwin Procter served as the company’s legal advisor. Kirkland & Ellis served as legal advisor to Vista.
Acquia is the open digital experience company. We provide the world’s most ambitious brands with technology that allows them to embrace innovation and create customer moments that matter. At Acquia, we believe in the power of community — giving our customers the freedom to build tomorrow on their terms. To learn more, visit acquia.com.
About Vista Equity Partners
Vista is a U.S.-based investment firm with offices in Austin, Chicago, New York City, Oakland, and San Francisco and more than $50 billion in cumulative capital commitments. Vista exclusively invests in enterprise software, data, and technology-enabled organizations led by world-class management teams. As a value-added investor with a long-term perspective, Vista contributes professional expertise and multi-level support towards companies to realize their full potential. Vista’s investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity.
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Copyright Business Wire 2019.
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Copyright Business Wire 2019.