January 22, 2010 - Accruent Inc., a leading provider of Enterprise Location Management (ELM) solutions, announced today that it has been acquired by Vista Equity Partners (Vista). Vista, a private equity firm with over $2.5 billion in committed capital, invests in private and public software and software-enabled companies, focusing on successful organizations committed to maintaining industry leadership.
“Vista is the right business partner for Accruent because they share our focus on delivering exceptional long-term value to customers, and they have a unique strategy for driving operational improvement,” said Mark Friedman, chief executive officer of Accruent. “Today’s announcement marks an important milestone in our maturity as a company and the start of a new chapter in our growth. Vista’s investment is a validation of our progress to date and provides the resources and expertise to take Accruent to the next level.”
Accruent provides a comprehensive suite of ELM solutions that enables organizations to develop, administrate and operate their property portfolios as a competitive advantage. Accruent’s solutions allow clients to establish a single ‘system of record’ for all information related to their locations by replacing the fragmented sources and systems previously in place. When coupled with process management and advanced business intelligence, Accruent helps organizations align real estate and facilities strategy with business strategy.
Vista’s founder and managing principal, Robert F. Smith said, “We are tremendously excited about partnering with Accruent. We are convinced that Accruent’s customers can realize significant ROI by investing in ELM. We also recognize that Accruent enjoys a commanding position in the industry due to the material results achieved by its customers and the deep expertise of its people. We look forward to working with the management team to serve the needs of current customers and attract new customers through investments and innovations that deliver proven value.”
Vista Equity Partners is a leading private equity firm with a long-term perspective that invests in dynamic, successful enterprise application software companies that are led by world-class management teams. With over $2.5 billion in committed equity capital, Vista Equity Partners is a value-added investor, contributing professional expertise and multi-level support toward its portfolio companies enabling them to realize their full potential. Vista’s investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven management techniques that yield flexibility and opportunity. Vista seeks to align the interest of clients, management and shareholders and focus on the operational processes and best practices that are critical for long-term value creation. For more information, visit www.vistaequitypartners.com.
Founded in 1995, Accruent is leading the industry with a new generation of enterprise solutions designed to fully leverage real estate and facilities as a competitive advantage. Accruent Enterprise Location Management solutions optimize the impact that locations have on organizational performance by rightsizing real estate and facilities portfolios, eliminating unnecessary spending and supporting compliance and sustainability initiatives. Accruent’s solutions are used by over 400 leading organizations including 20 percent of the Fortune 500, more than 40 percent of the Top 100 Retailers, leading universities and public sector entities. Another Accruent customer goes live every 10 days. For more information, visit www.accruent.com.