Wednesday, February 14, 2018

FastSpring Acquired By Accel-KKR

Santa Barbara-based FastSpring, which develops e-commerce software for subscription-based software businesses, has been acquired by private equity investor Accel-KKR. According to FastSpring, Accel-KKR has made a majority equity investment in the firm, to provide capital and resources for its technology and go-to-market initiatives. Financial details of the acquisition were not announced. FastSpring was founded in 2005, and is led by CEO Chris Lueck. FastSpring was advised by Raymond James in the deal. FastSpring had been backed by Los Angeles-based investment firm Pylon Capital, and counts such customers as Adobe and Microsoft.