San Francisco-based Vista Equity Partners has acquired Advanced Computer Software, a British software company that provides healthcare and business software services for £725 million. The deal will take the UK-listed company private.
Vista paid £1.40 per share for the company representing a 17 percent premium.
Shares of Advanced Computer Software were up over 15 percent in morning trading on the UK exchange.
Vista was unavailable for comment on the transaction at press time.
Vista closed its fifth fund in October on $5.78 billion, as PEI reported at the time. The fund was in market for under a year. The firm itself was also recently the news for a reported clause in its terms for that fund that gives it more financing flexibility in leveraged buyouts and other transactions. Reuters reported that the clause allows Vista to finance buyouts with just the cash from the fund, which can give the firm an edge in auctions. The clause is said to have helped Vista in its $4.2 billion takeover of TIBCO Software, which later included debt commitments from JP Morgan Chase and Jefferies.
According to a statement announcing the ACS deal, debt and equity were part of the transaction from the outset. The acquisition is expected to close early next year subject to regulatory approvals.
Both Goldman Sachs and Morgan Stanley served as advisors on the transaction.
Known investors in Vista’s fifth fund include the New Jersey State Investment Council and the Oregon Public Employees Retirement Fund.