Wednesday, April 18, 2018

Vista Equity Partners Acquires LogicMonitor

Austin-based private equity investor Vista Equity Partners has acquired IT monitoring software developer LogicMonitor, the companies said on Tuesday. LogicMonitor was previously owned by another private equity investor, Providence Strategic Growth (PSG). Financial details of the acquisition were not announced. According to the companies, PSG will retain a minority ownership stake in LogicMonitor after the majority acquisition. LogicMonitor was headquartered in Santa Barbara, California, but also has a "Global Center of Customer Excellence" in Austin. LogicMonitor was advised by William Blair in the deal, with Vista Equity advised by Evercore; PSG and LogicMonitor were represented by Weil, Gotshal & Manges LLP in the deal, with Vista being represented by Kirkland & Ellis.