Private equity firms Blackstone and Vista Equity Partners announced that they have agreed to acquire Ellucian, a leading higher education technology solutions provider, from TPG Capital and Leonard Green & Partners, L.P. Financial terms of the transaction were not disclosed.
Blackstone and Vista will invest in Ellucian through their respective long-term private equity strategies, which hold investments for longer periods than traditional private equity.
Ellucian delivers mission-critical, enterprise resource planning (ERP) software to higher-education institutions. Ellucian has more than 2,700 customers in over 50 countries, improving operations and enhancing the user experience for their faculties, staff and over 26 million students.
Blackstone said digital transformation is one of its highest-conviction investment themes and Ellucian has proven itself a clear leader in the fast-growing higher-education technology sector.
Source: Nasdaq
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