SYS-CON MEDIA Authors: Zakia Bouachraoui, Carmen Gonzalez, Yeshim Deniz, Pat Romanski, Gary Arora

News Feed Item

Vista Equity Partners to Acquire Majority Stake in LogicMonitor

LogicMonitor, the leading SaaS-based monitoring platform for hybrid IT infrastructures and cloud services, today announced that it has signed a definitive agreement to be acquired by Vista Equity Partners (“Vista”), a leading private equity firm focused on software, data, and technology-enabled businesses. The investment continues Vista’s focus on acquiring best-in-class software businesses, providing mission-critical solutions to customers. Existing owner Providence Strategic Growth (“PSG”) will retain a minority ownership stake in LogicMonitor moving forward.

“Vista enables some of the most impactful software companies on the market today to grow quickly while expanding innovation,” said Kevin McGibben, Chief Executive Officer at LogicMonitor. “Our platform delivers real-time performance visibility to IT operations so global enterprises, managed service providers, and modern web technology companies can scale to deliver superior products and services. This investment by Vista endorses the leadership position we’ve built to date, and provides us with an incredible opportunity to leverage their intellectual capital and portfolio of resources to continue to scale our own business,” said McGibben.

Headquartered in Santa Barbara, California, LogicMonitor has a Global Center of Customer Excellence in Austin, and offices in London, Boston, Singapore and Chengdu. LogicMonitor joins Vista with strong momentum and significant market opportunity as business and IT leaders increasingly require speed, flexibility, and actionable insights to succeed in today’s competitive markets.

“LogicMonitor’s differentiated and high ROI solution is uniquely positioned to support complex corporate IT environments,” said Alan Cline, Principal at Vista Equity Partners and Co-Head of the Vista Foundation Fund. “We are thrilled to be partnering with the LogicMonitor team to further accelerate its product investment and its rapid growth trajectory as it supports companies that monitor increasingly complicated cloud and hybrid environments."

“Since our investment in 2016, LogicMonitor has solidified its position as the industry leader in SaaS-based IT Infrastructure Monitoring, and PSG is excited to partner with Vista to support LogicMonitor’s next phase of growth,” said Thomas M. Reardon, Managing Director, Providence Strategic Growth.

Gartner predicts more than 20.4 billion devices will come on-line by 2020, greatly increasing the need for a solution that can monitor their performance in real-time, and alert IT teams to potential outages and disruptions. With integrations to key business applications such as ServiceNow and Atlassian, the LogicMonitor platform simplifies workflow and time to resolution. LogicMonitor includes out-of-the-box coverage for thousands of technologies across the IT stack including Cisco, Kubernetes, NetApp, and VMware, offering granular visibility across the IT and application infrastructure anywhere these resources sit-- on premises, in the data center, or in the cloud.

The transaction is expected to close in the second quarter of this year. Financial terms have not been disclosed. William Blair served as the exclusive financial advisor to LogicMonitor and Evercore served as the financial advisor to Vista. Weil, Gotshal & Manges LLP served as legal advisor to PSG and LogicMonitor, and Kirkland & Ellis served as legal advisor to Vista.

About Vista Equity Partners

Vista Equity Partners, a U.S.-based investment firm with offices in Austin, San Francisco, Chicago, and Oakland with more than $31 billion in cumulative capital commitments, currently invests in software, data and technology-enabled organizations led by world-class management teams with long-term perspectives. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies’ realization of their full potential. Vista’s investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For more information, please visit www.vistaequitypartners.com.

About LogicMonitor

LogicMonitor is the SaaS-based, performance monitoring platform for Enterprise IT. With coverage for thousands of technologies, and integrations with key business applications, LogicMonitor provides granular visibility into infrastructure, cloud and application performance across hybrid and cloud infrastructures. LogicMonitor’s automated device discovery, preconfigured alert thresholds and rich, customizable dashboards, come together to give IT teams the speed, flexibility and actionable insights required to succeed in today’s competitive markets. For more information, please visit www.logicmonitor.com.

About Providence Strategic Growth

Providence Strategic Growth Capital Partners L.L.C. (“PSG”) is an affiliate of Providence Equity Partners L.L.C. (“Providence”). Established in 2014, PSG focuses on growth equity investments in lower middle market software and technology-enabled service companies, primarily in North America. Providence is a premier, global asset management firm with more than $54 billion in capital under management across complementary private equity and credit businesses. For more information on PSG, please visit www.provequity.com/private-equity/psg, and for more information on Providence Equity, please visit www.provequity.com.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Public clouds dominate IT conversations but the next phase of cloud evolutions are "multi" hybrid cloud environments. The winners in the cloud services industry will be those organizations that understand how to leverage these technologies as complete service solutions for specific customer verticals. In turn, both business and IT actors throughout the enterprise will need to increase their engagement with multi-cloud deployments today while planning a technology strategy that will constitute a ...
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
Every organization is facing their own Digital Transformation as they attempt to stay ahead of the competition, or worse, just keep up. Each new opportunity, whether embracing machine learning, IoT, or a cloud migration, seems to bring new development, deployment, and management models. The results are more diverse and federated computing models than any time in our history.
Andrew Keys is co-founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereum.
Concerns about security, downtime and latency, budgets, and general unfamiliarity with cloud technologies continue to create hesitation for many organizations that truly need to be developing a cloud strategy. Hybrid cloud solutions are helping to elevate those concerns by enabling the combination or orchestration of two or more platforms, including on-premise infrastructure, private clouds and/or third-party, public cloud services. This gives organizations more comfort to begin their digital tr...
Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software with the simplicity and reach of the open web. With staff in 10 timezones, Isomorphic provides a global network of services related to our technology, with offerings ranging from turnkey application development to SLA-backed enterprise support. Leadin...
On-premise or off, you have powerful tools available to maximize the value of your infrastructure and you demand more visibility and operational control. Fortunately, data center management tools keep a vigil on memory contestation, power, thermal consumption, server health, and utilization, allowing better control no matter your cloud's shape. In this session, learn how Intel software tools enable real-time monitoring and precise management to lower operational costs and optimize infrastructure...
Data center, on-premise, public-cloud, private-cloud, multi-cloud, hybrid-cloud, IoT, AI, edge, SaaS, PaaS... it's an availability, security, performance and integration nightmare even for the best of the best IT experts. Organizations realize the tremendous benefits of everything the digital transformation has to offer. Cloud adoption rates are increasing significantly, and IT budgets are morphing to follow suit. But distributing applications and infrastructure around increases risk, introdu...
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science" is responsible for guiding the technology strategy within Hitachi Vantara for IoT and Analytics. Bill brings a balanced business-technology approach that focuses on business outcomes to drive data, analytics and technology decisions that underpin an organization's digital transformation strategy. Bill has a very impressive background which includes ...
Darktrace is the world's leading AI company for cyber security. Created by mathematicians from the University of Cambridge, Darktrace's Enterprise Immune System is the first non-consumer application of machine learning to work at scale, across all network types, from physical, virtualized, and cloud, through to IoT and industrial control systems. Installed as a self-configuring cyber defense platform, Darktrace continuously learns what is ‘normal' for all devices and users, updating its understa...
DevOps has long focused on reinventing the SDLC (e.g. with CI/CD, ARA, pipeline automation etc.), while reinvention of IT Ops has lagged. However, new approaches like Site Reliability Engineering, Observability, Containerization, Operations Analytics, and ML/AI are driving a resurgence of IT Ops. In this session our expert panel will focus on how these new ideas are [putting the Ops back in DevOps orbringing modern IT Ops to DevOps].
On-premise or off, you have powerful tools available to maximize the value of your infrastructure and you demand more visibility and operational control. Fortunately, data center management tools keep a vigil on memory contestation, power, thermal consumption, server health, and utilization, allowing better control no matter your cloud's shape. In this session, learn how Intel software tools enable real-time monitoring and precise management to lower operational costs and optimize infrastructure...
While a hybrid cloud can ease that transition, designing and deploy that hybrid cloud still offers challenges for organizations concerned about lack of available cloud skillsets within their organization. Managed service providers offer a unique opportunity to fill those gaps and get organizations of all sizes on a hybrid cloud that meets their comfort level, while delivering enhanced benefits for cost, efficiency, agility, mobility, and elasticity.
Most organizations are awash today in data and IT systems, yet they're still struggling mightily to use these invaluable assets to meet the rising demand for new digital solutions and customer experiences that drive innovation and growth. What's lacking are potent and effective ways to rapidly combine together on-premises IT and the numerous commercial clouds that the average organization has in place today into effective new business solutions. New research shows that delivering on multicloud e...