Wednesday, April 18, 2018

LogicMonitor Acquired By Vista Equity Partners

Santa Barbara-based IT monitoring software developer LogicMonitor has been acquired by private equity investor Vista Equity Partners, from its existing owner, Providence Strategic Growth (PSG), the companies said on Tuesday. Financial details of the acquisition were not announced. According to the companies, PSG will retain a minority ownership stake in LogicMonitor after the majority acquisition. LogicMonitor is led by CEO Kevin McGibben. PSG acquired its stake in LogicMonitorin 2016. LogicMonitor was advised by William Blair in the deal, with Vista Equity advised by Evercore; PSG and LogicMonitor were represented by Weil, Gotshal & Manges LLP in the deal, with Vista being represented by Kirkland & Ellis.