The American investment company Vista Equity Partners Management, LLC has entered into an agreement to sell a minority stake in LogicMonitor Inc. to a group of investors for $800 million. This is reported in the Vista Equity press release.
As part of the deal, the total value of LogicMonitor is estimated at $2.4 billion, including debt obligations.
The consortium of investors includes PSG Equity, Golub Capital and a number of other companies. Upon completion of the transaction, Vista will remain the majority shareholder of LogicMonitor. Evercore Inc. and Morgan Stanley act as advisors to LogicMonitor.
Vista acquired LogicMonitor in May 2018 through Vista Foundation III for $415 million. Since the investment, the company has grown by 650%, expanding the range of solutions and increasing the base of customers and employees.
In March, Vista engaged financial advisors to evaluate options for LogicMonitor's future activities by using investments to expand the platform through mergers and acquisitions, entering new markets and diversifying into new verticals.
LogicMonitor is an American IT company developing an artificial intelligence-based cloud performance monitoring platform for corporate IT, managed service providers and the small and medium-sized business sector. The headquarters is located in Santa Barbara (California).
Vista Equity Partners is an American private equity firm in the field of software and IT technologies. The company manages assets worth over $100 billion and is one of the largest private equity firms in the world. The headquarters is located in Austin (Texas).
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