Bridge Growth acquires majority stake in VC-backed Accedian

U.S. private equity firm Bridge Growth Partners has made a majority equity investment in Accedian, a Canadian provider of network performance monitoring and assurance solutions. No financial terms were released; however, the Financial Post reported Bridge Growth invested more than US$100 million to support Accedian's global growth. With the deal, Bridge Growth's Tom Manley will chair the board, while Alok Singh and Bill Teuber will become directors. Founded in 2005 by CEO Patrick Ostiguy, Montréal's Accedian has previously raised funding from Rho Canada Ventures, Skypoint Capital, Summit Partners and other investors.

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