Vista Equity Partners will acquire a majority stake in Salesloft Inc, valuing the sales engagement software company at $2.3bn, the Wall Street Journal reported on Wednesday, as a record year for private-equity tech deals nears its end.
The U.S.-based investment firm aims to expand its reach to the Asia-Pacific region and plans to “triple down” on its investment in Europe, Middle East and Africa, the report added, citing Chief Executive Officer Kyle Porter.
The latest inflow of funds will push the technology platform toward an initial public offering, the report said.
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Given the boost from the pandemic and people opting to work remotely, Salesloft exceeded $100 million in annual recurring revenue this summer, the report stated. The company’s clients include Google, IBM and Microsoft’s LinkedIn.
Salesloft and Vista did not immediately respond to Reuters’ requests for comment sent outside business hours.
Source: Reuters
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