Vista Equity Partners is close to finalising a deal to acquire Acumatica, a cloud-based enterprise software provider, from Swedish private equity group EQT, in a transaction that would value the business at approximately $2bn including debt, according to a report by Bloomberg.
The report cites unnamed people familiar with the matter as revealing that the deal, which marks the latest move by Vista to expand its portfolio of mid-market software businesses with recurring revenue models, could be announced as early as Thursday. Discussions are said to be at an advanced stage, although final terms could still be subject to change, the sources said.
Acumatica, headquartered in Bellevue, Washington, specialises in enterprise resource planning (ERP) software, helping small and midsize businesses automate workflows, manage operations, and control inventory across the cloud. The company has seen strong growth on the back of rising demand for modern ERP solutions, particularly among digitally transforming SMEs.
EQT acquired Acumatica in June 2019 through its EQT VII fund, reportedly in a carve-out from a larger transaction involving IFS. While terms of EQT’s original investment were not disclosed, the $2bn valuation would represent a significant exit multiple and potential IRR for the Swedish firm, reflecting the broader trend of private equity targeting vertical SaaS platforms with defensible IP and high retention rates.
Neither EQT nor Vista commented on the potential transaction.
