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Did Aderant go for $111million ?

We're grateful to the finance director of a well-known legal IT vendor for drawing out attention to this posting on the AltAssets private equity news website – www.altassets.com

California-based mid-market private equity firm Vista Equity
Partners has closed its third fund on approximately $1.3bn. Vista
Equity Partners Fund III (VEPF III) is the firm's first institutional fund. Vista focuses on mid-market enterprise software companies and technology-enabled solutions businesses.


Since the first closing in January 2007 for an undisclosed amount,
VEPF III has already completed four private investments valued at
$757m: Sunquest, which provides laboratory information and management
systems for hospitals and commercial laboratories, acquired in October
2007 in a deal valued at $382m; Accero (formerly Cyborg), a provider of
human resources and payroll software, acquired in January in a deal
valued at $47m; Petroleum Place, a provider of software, data and
property marketplace solutions to the oil and gas industry, acquired in
June in a deal valued at $217m; and Aderant, a provider of business
management applications for law firms and other professional services
organisations to efficiently manage operations, attract and retain
clients and maximise profitability,
acquired in October in a deal
valued at $111m
.


Robert Smith, managing principal, Vista, said, 'We are extremely
pleased to close this fund with strong support from a wide range of
investors. Despite widespread problems in the financial markets, we
found our investors' appetite remains strong for experienced investment
teams with differentiated approaches and proven strategies.'

One reply on “Did Aderant go for $111million ?”

It would appear that ADERANT was aquired by Francisco Partners for about 25MM. Good return – speaks well to the strength of ADERANT

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