Acquisitions ahoy – Vista buy Mitratech
Mitratech, which specialises in systems for the corporate legal market, including matter management, e-billing and GRC (governance risk & compliance) automation, today announced that it has been acquired by Vista Equity Partners. As part of the acquisition, Mitratech announces the appointment of Eric Thurston to the role of president of the company. Thurston will replace Afshin Behnia, who has served as president & CEO since 2004. Thurston has more than twenty years of technology experience leading business development, operations, and sales and marketing organizations. Most recently, he was Senior Vice President of Operations at P2 Energy Solutions, a Vista Equity Partners company that provides a comprehensive range of software, data and services to oil and gas industries.
“This transaction is the best possible outcome for Mitratech's customers, products and people. Vista's experience in growing successful software companies comes at a key time in the growth cycle of Mitratech,” said Afshin Behnia, the outgoing president & CEO of Mitratech. “I am proud of what we were able to accomplish over the past 24 years and look forward to seeing Vista take the company to new heights.”
Comment: Who? The name is not familiar? Wind back the clock three years to early November 2008 and Vista Equity were the guys who bought Aderant. Meanwhile over in the corporate legal market, Mitratech is one of the largest players (in the UK Datacert is probably better known for historical reasons) in an increasingly competitive market that is seen as ripe for consolidation and a shake-out.