Autotask Corporation, provider of hosted IT business management software, is to be acquired by Vista Equity Partners.
The transaction is expected to close this summer and financial terms have not been disclosed.
Vista Equity Partners says the acquisition will help the Autotask team expand and enhance their product offering.
“Autotask has a long history of dedicating itself to customer-centric solutions and has built a strong foundation for sustained, long-term growth,” said Alan Cline, Principal at Vista Equity Partners. “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.”
"Autotask’s solutions drive accountability of key business metrics and help customers drive revenue and achieve greater profitability by empowering them to make data-informed, fact-based decisions," said Autotask in a statement.
Mark Cattini, President and CEO of Autotask, added: "This announcement reflects our deep commitment to accelerate the value we deliver to our customers. 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."
Founded in 2001 and headquartered in New York, Autotask provides software that lets service providers manage their front, mid and back office.
Jefferies LLC acted as financial advisor to Autotask.