Lithium Technologies, a specialist in cloud-based social media management and online community solutions, is to be acquired by private equity firm Vista Equity Partners.
Lithium’s board of directors has unanimously approved the transaction, although terms have not disclosed.
“This marks a new chapter for Lithium, and the next step in creating the leading Digital Customer Experience company,” says Rob Tarkoff, president and CEO of Lithium. “Our vision of helping brands build amazing digital customer experience at scale remains the same, and we will continue to develop the leading engagement platform to provide more value to our customers. This transaction with Vista gives us the opportunity to accelerate our plans to create a consolidated digital customer experience software stack that will be the best in class for enterprise brands.”
Lithium becomes part of the Vista family having achieved record revenue for the fiscal year ended on 31 January 2017 and for its fiscal first quarter ended 30 April 2017.
“We are thrilled to partner with the team at Lithium to help the company accelerate its growth and innovation, as well as extend its market leading position in digital customer experience. We are delighted to bring Lithium into the Vista family,” says Alan Cline, principal at Vista Equity Partners and co-head of the Vista Foundation Fund.
Lithium will maintain its headquarters in San Francisco and continue to operate business as usual. The transaction is currently expected to close within 30-45 days, subject to customary closing conditions, including certain Lithium stockholder approvals, customary regulatory approvals and the satisfaction of certain other customary conditions.
