Private equity firm Great Hill Partners has reached an agreement to acquire software provider Fusion Risk Management Inc. from buyout firm Vista Equity Partners, according to a person familiar with the matter.
(Bloomberg) — Private equity firm Great Hill Partners has reached an agreement to acquire software provider Fusion Risk Management Inc. from buyout firm Vista Equity Partners, according to a person familiar with the matter.
The deal values the software provider for IT risk and incident management services at more than $500 million, said the person, who asked not to be identified because the information isn’t public yet. An announcement could come as soon Wednesday, the person said.
Representatives for Fusion, Vista and Great Hill didn’t immediately respond to requests for comment.
Fusion was started in 2006 by a team of founders including David Nolan, Bob Sibik and Victor Fricas. The company offers a range of risk management tools such as emergency notification systems, critical data integration and disaster recovery.Â
In 2017 the company raised $41 million in a Series C funding round led by growth-equity firm Catalyst Investors. Two years later, Vista Equity Partners bought a stake in the business. According to data provider PitchBook, Fusion raised $9.2 million in debt last August.
Boston-based Great Hill announced last month that it was expanding the firm’s presence internationally with a new London office. The firm’s portfolio has included assets such as home goods distributor Wayfair Inc., luxury consignment retailer RealReal Inc., identity verification software maker Jumio and custom apparel manufacturer Custom Ink.
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