HGGC is acquiring the parent company of Survey Sampling International, a provider of survey technology. The firm will acquire SSI from Providence Equity Partners and Sterling Investment Partners.
Both Providence and Sterling have jointly owned the company since 2011, and will retain a minority investment interest. Sources familiar with the matter say the investment came from HGGC’s second fund, a $1 billion vehicle.
SSI has more than 3,000 customers in the US and worldwide. The firm provides market research for businesses.
Upon completion of the investment, HGGC’s CEO Rich Lawson will become chairman of the board of SSI and will be joined by HGGC managing partner Steve Young. Providence and Sterling also maintain board representation.
The transaction is reportedly valued at $500 million.
HGGC also has investments in a number of other software service providers including Serena Software and MyWebGrocer.
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