Vista Equity Partners To Acquire Majority Stake In LogicMonitor
Investment will fuel continued rapid growth, product roadmap acceleration, and global expansion for LogicMonitor.
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.