Summit Partners invests in Ascentis

Summit Partners has invested in Ascentis Corp through a majority recapitalization. Financial terms weren’t announced. Palm Ventures is retaining a minority stake in Ascentis, while Catalyst Investors is exiting. Ascentis offers a suite of human resources, benefits, payroll, timekeeping and talent management products to more than 1,000 customers throughout the U.S. and Canada.

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