Vista Equity Partners Completes Acquisition of Xactly
July 31 2017 - 8:56AM
Business Wire
Xactly (NYSE:XTLY), a leading provider of cloud-based incentive
solutions, today announced that it has been acquired by Vista
Equity Partners ("Vista"), a leading private equity firm focused on
investments in software, data and technology-enabled businesses.
The transaction, originally announced on May 30, 2017, was
completed on July 31, 2017. Xactly's stockholders approved the
acquisition on July 28, 2017.
The acquisition - which combines Xactly's product and industry
leadership with Vista's strategic and operational expertise for
high-growth SaaS companies - begins the next phase of growth for
Xactly, in which the company will continue to focus on innovation
and thought leadership in cloud-based incentive compensation
solutions.
“Twelve years ago, we set out on a mission to transform the way
companies approach incentive compensation,” said Christopher W.
Cabrera, founder and CEO of Xactly. “Joining Vista marks a
significant milestone on our journey. Vista is the ideal partner to
accelerate our growth initiatives while we continue to forge a new
era of sales and employee performance management.”
“We see tremendous value in the cloud-based, performance
management solutions that Xactly delivers to its customers," said
Brian Sheth, Co-Founder and President of Vista. "We are excited to
welcome Xactly into the Vista portfolio of software companies and
look forward to working with the management team as they continue
to build upon the strong foundation they have established."
With the completion of the transaction, Xactly's common stock
will cease trading and no longer be listed on the New York Stock
Exchange.
Goldman Sachs Middle Market Lending Corp. acted as Collateral
Agent for the senior credit facility issued to support the
acquisition. J.P. Morgan Securities LLC served as exclusive
financial advisor and Wilson Sonsini Goodrich & Rosati served
as legal advisor to Xactly. Kirkland & Ellis LLP served as
legal advisor to Vista.
About Xactly
Headquartered in San Jose, California, Xactly (NYSE: XTLY) is a
leading provider of enterprise-class, cloud-based, incentive
compensation solutions for employee and sales performance
management. Named a leader in Gartner’s Magic Quadrant for Sales
Performance Management software, Xactly addresses a critical
business need to incentivize employees and align their behaviors
with company goals. Our products allow organizations to make more
strategic decisions, increase employee performance, improve
margins, and mitigate risk.
Our core values are key to our success, and each day we’re
committed to upholding them by delivering the best we can to our
customers. To learn more about Xactly and the latest issues and
trends in SPM software, follow us on Twitter, Facebook, and
subscribe to the Xactly blog.
About Vista Equity Partners
Vista Equity Partners, a U.S.-based investment firm with offices
in Austin, San Francisco, Chicago, and Oakland with more than $30
billion in cumulative capital commitments, currently invests in
software, data and technology-enabled organizations led by
world-class management teams with long-term perspective. Vista is a
value-added investor, contributing professional expertise and
multi-level support towards companies realizing their full
potential. Vista's investment approach is anchored by a sizable
long-term capital base, experience in structuring
technology-oriented transactions, and proven management techniques
that yield flexibility and opportunity in private equity investing.
For more information, please visit www.vistaequitypartners.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170731005561/en/
Xactly Corporation:Investor RelationsThe Blueshirt
GroupLisa Laukkanen, 415-217-4967lisa@blueshirtgroup.comorVista
Equity Partners:Alan H. Fleischmann,
202-776-7776vista@laurelstrategies.com
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