LogicMonitor has announced that it has signed a definitive agreement to be acquired by Vista Equity Partners (“Vista”), a private equity firm focused on software, data, and technology-enabled businesses. The investment continues Vista’s focus on acquiring best-in-class software businesses, providing mission-critical solutions to customers. Existing owner Providence Strategic Growth (“PSG”) will retain a minority ownership stake in LogicMonitor moving forward.
“Vista enables some of the most impactful software companies on the market today to grow quickly while expanding innovation,” said Kevin McGibben, chief executive officer, LogicMonitor. “Our platform delivers real-time performance visibility to IT operations so global enterprises, managed service providers, and modern web technology companies can scale to deliver superior products and services. This investment by Vista endorses the leadership position we’ve built to date, and provides us with an incredible opportunity to leverage their intellectual capital and portfolio of resources to continue to scale our own business,” said McGibben.
Headquartered in Santa Barbara, California, LogicMonitor has a Global Center of Customer Excellence in Austin, and offices in London, Boston, Singapore, and Chengdu. LogicMonitor joins Vista with strong momentum and significant market opportunity as business and IT leaders increasingly require speed, flexibility, and actionable insights to succeed in today’s competitive markets.
“LogicMonitor’s differentiated and high ROI solution is uniquely positioned to support complex corporate IT environments,” said Alan Cline, principal at Vista Equity Partners and co-head of the Vista Foundation Fund. “We are thrilled to be partnering with the LogicMonitor team to further accelerate its product investment and its rapid growth trajectory as it supports companies that monitor increasingly complicated cloud and hybrid environments."
“Since our investment in 2016, LogicMonitor has solidified its position as the industry leader in SaaS-based IT Infrastructure Monitoring, and PSG is excited to partner with Vista to support LogicMonitor’s next phase of growth,” said Thomas M. Reardon, managing director, Providence Strategic Growth.
Gartner predicts more than 20.4 billion devices will come on-line by 2020, greatly increasing the need for a solution that can monitor their performance in real-time, and alert IT teams to potential outages and disruptions. With integrations to key business applications such as ServiceNow and Atlassian, the LogicMonitor platform simplifies workflow and time to resolution. LogicMonitor includes out-of-the-box coverage for thousands of technologies across the IT stack including Cisco, Kubernetes, NetApp, and VMware, offering granular visibility across the IT and application infrastructure anywhere these resources sit — on premises, in the data center, or in the cloud.
The transaction is expected to close in the second quarter of this year. Financial terms have not been disclosed. William Blair served as the exclusive financial advisor to LogicMonitor and Evercore served as the financial advisor to Vista. Weil, Gotshal & Manges LLP served as legal advisor to PSG and LogicMonitor, and Kirkland & Ellis served as legal advisor to Vista.
