Connect with us

Business

Robert F. Smith’s Vista Equity Partners and Warburg Pincus acquires Redwood

Robert F. Smith's Vista Equity Partners and Warburg Pincus acquires Redwood
Robert F. Smith, Founder and Chairman of Vista Equity Partners. PHOTO/Getty Images
Thursday, September 12, 2024

Redwood Software, a leading provider of automation fabric solutions, has announced a new agreement to be acquired by funds managed by Vista Equity Partners, a global investment firm that focuses on enterprise software, data, and technology businesses, along with Warburg Pincus, a prominent global growth investor. While the financial terms of the acquisition have not been disclosed, the transaction is subject to the usual regulatory approvals and closing conditions.

Redwood’s automation fabric solutions allow clients to design, orchestrate, and manage business and IT processes across various platforms, services, and servers. In June, the company revealed that it had added over 1,000 new clients since mid-2023 and had consistently achieved financial performance that surpasses the ‘Rule of 60.’ Today, Redwood serves more than 7,500 clients globally, including 28 percent of Fortune 500 companies and 40 percent of the Fortune 50.

“We are excited to join forces with Vista Equity Partners and Warburg Pincus,” said Kevin Greene, CEO of Redwood Software. “Their strategic expertise will enable us to accelerate our mission of empowering people through automation. As we embark on this next chapter, we are committed to automating every feasible IT and business process, transforming the way work gets done.”

Read more…

Continue Reading
Comments