“Vista Equity Partners, which likes to purchase undervalued tech companies and turn them around for a hefty profit, has purchased web content management and digital experience company Acquia in a deal valued at $1 billion.”
“Robert F. Smith, who is founder and chairman of Vista Equity Partners, says that increasingly brands understand that delivering a quality digital experience is essential to their success, and he sees Acquia as well-positioned in the market to help deliver that. ‘Acquia understands this and is leading the way in providing innovative solutions to its customers while, at the same time, giving back to the open source community,’ Smith said in a statement.”
“Company co-founder Dries Buytaert, writing on his personal blog about the deal, reiterated that the company will continue to be a big open-source contributor after the deal goes through. ‘This investment should be great news for the Drupal and Mautic communities as we’ll have the right resources to compete against other solutions, and our deep commitment to Drupal, Mautic and Open Source will be unchanged. In fact, we will continue to increase our current level of investment in Open Source as we grow our business,’ he wrote…” Read the full article here.
Source: Vista Equity Partners buys Acquia for $1B – By Ron Miller, September 24, 2019. TechCrunch.
