Takeover to accelerate Advanced’s position as a global player
Leading UK software provider, Advanced, today announced that it has been acquired by Vista Equity Partners (“Vista”), a private equity firm with over $14 billion in committed capital, for an enterprise value of £750 million. Shareholders will receive 140 pence per share equating to an equity value of approximately £725 million. The takeover puts Advanced in a powerful financial position to invest in and develop the business through the next phase of growth, supporting its ambition to become a major global player.
"This acquisition means we now have the major financial backing we need to support us through our next phase of growth and establish our position as a serious global player,” said Vin Murria, CEO, Advanced. "Our customers will benefit from increased investment in our product and services as we continue to offer innovative and leading edge technology solutions implemented both on-premise and, increasingly, via a subscription model.”
Founded in 2008, Advanced provides healthcare, business and learning management software and services. It is the third-largest UK-based software provider to the UK market, with more than 2,000 employees and 20,000 customers. The group has grown revenue to more than £200 million through a programme of complementary acquisitions and strong organic growth.
“Advanced has a strong history of delivering mission-critical and high ROI solutions to its customers,” said Brian Sheth, Co-Founder and President of Vista Equity Partners. “Vista will help Advanced build on that success by contributing professional expertise, proven best practices, and management techniques that will help Advanced continue to deliver operational, product and service excellence.”
In 2014, Advanced won Tech Company of the Year in PwC’s UK Tech Awards and was ranked in the Deloitte UK Technology Fast 50, which recognises the 50 fastest growing technology companies in the UK.