Vista Equity Partners, a private investment firm focused on enterprise software, data and technology-enabled businesses, has acquired JAGGAER, a provider of enterprise procurement and supplier collaboration software, from global private equity firm Cinven.
The transaction is expected to complete in Q4 2024 and is subject to regulatory approvals and other customary closing conditions.
JAGGAER provides source-to-pay and supplier collaboration software for direct and indirect procurement processes. Its services help optimise and automate sourcing, spend management, contracting, eProcurement, invoicing and supply chain visibility for more than 1,400 customers around the world.
Cinven first invested in the business in 2019 via its sixth fund.
In a press statement Andy Hovancik, Chief Executive Officer of JAGGAER, said: “We are grateful for Cinven’s dedicated partnership, which has launched JAGGAER into our next phase of growth.
“Vista is a highly experienced software investor, and I’m confident they will be an exceptional partner to JAGGAER during this exciting next phase of growth and opportunity.”
Goldman Sachs & Co, Moelis & Company and Kirkland & Ellis advised JAGGAER.
Source: Private Equity Wire
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