Vista has a track record in the tech world with stakes in the software, data and technology-enabled services companies and will now add Autotask, which provides service providers with management software, to its portfolio for an undisclosed sum.
There has been a bit of consolidation in the managed services software provider space with AVG acquiring Level Platforms this time last year as the technology is added to a larger solution.
“This announcement reflects our deep commitment to accelerate the value we deliver to our customers,” said Mark Cattini, president and CEO of Autotask. “We are devoted to our clients’ ongoing success and are confident that our partnership with Vista will drive innovation and growth and deliver dynamic solutions as the traditional IT landscape evolves.”
Alan Cline, principal at Vista Equity Partners, said that it was planning to invest in Autotask once the acquisition closed in the summer: “We are very pleased to be working with the Autotask team to expand and enhance the company’s solutions to help IT service providers more efficiently and effectively meet their clients’ changing needs.”