Vista Said to Near LogicMonitor Stake Sale at $2.4 Billion Value

Bloomberg

20 Nov 2024

Vista-1.57%Post-market

(Bloomberg) -- Vista Equity Partners is nearing an agreement to sell a minority stake in LogicMonitor Inc. to a group of investors in a deal valuing the IT infrastructure monitoring platform at about $2.4 billion, including debt, according to people with knowledge of the matter.

Vista is discussing selling the stake in exchange for an $800 million equity and debt investment, the people said, asking not to be identified discussing a private matter. The investor group includes PSG Equity and Golub Capital, and Vista will remain LogicMonitor’s controlling shareholder, the people said.

An agreement could be announced as soon as Wednesday, barring any last-minute snags, the people said.

Representatives for Vista, LogicMonitor and PSG declined to comment. A spokesperson for Golub didn’t immediately respond to a request for comment.

Bloomberg News reported in March that Vista was working with financial advisers to explore options for LogicMonitor. Founded in 2007, the Santa Barbara, California-based company provides a cloud-based, AI-powered performance monitoring platform for enterprise IT, managed service providers and small and midsize businesses.

Vista acquired LogicMonitor in May 2018 through its Vista Foundation Fund III for about $415 million, according to data provider PitchBook.

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