Datasite®, the leading SaaS technology provider for mergers and acquisitions (M&A) professionals, has completed its agreement to be acquired by funds managed by CapVest Partners LLP, an international private equity firm.
The transaction, first announced on October 19, 2020, is expected to fuel Datasite’s continued growth. Last year, the company increased its revenue by more than 30%, as it facilitated close to 10,000 deals on its award-winning platform. Datasite’s applications include Datasite Diligence™, which helps manage due diligence in a virtual data room (VDR); Datasite Prepare™, which aids in the preparation of transactions; Datasite Outreach™, which optimizes the early stage asset marketing process; and Datasite Acquire™, the industry’s first dedicated buy-side application.
“CapVest has a history of transforming the size and scale of its portfolio companies so these companies can realize their full potential,” said Datasite CEO, Rusty Wiley. “With their backing we’re ready for our next phase of growth, which will include the introduction of new and innovative technologies to make transactions faster, simpler, and more secure, enabling our customers to achieve better deal outcomes.”
Minneapolis-based Datasite has a growing customer base in over 180 countries and currently has more than 750 employees in 25 locations across 13 countries.
“In the last five years, Datasite has transformed into an agile, global fintech software company providing essential services to dealmakers around the world,” said Christopher Campbell, Partner, CapVest. “We’re looking forward to helping them go far beyond virtual data rooms to automate the many complex processes involved in managing the M&A lifecycle, including addressing dealmaker needs that can be met through product development, partnership or acquisition, enabled by Datasite’s modular API-based technology platform.”
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Goldman Sachs & Co. LLC acted as exclusive financial advisor to Datasite, and Akin Gump Strauss Hauer Feld served as Datasite’s legal advisor. CapVest received financial advisory services from William Blair, legal services from Kirkland & Ellis LLP, financial and due diligence services from KPMG LLP, West Monroe Partners and GRAPH Strategy.