Vista Equity Partners will be acquiring NAVEX Global, a provider of ethics and compliance solutions. No financial terms were disclosed for the deal that’s expected to close later this year. Deutsche Bank and Piper Jaffray are advising NAVEX Global on the transaction.
PORTLAND, Ore., Oct. 14, 2014 /PRNewswire/ — Ethics and compliance solution leader NAVEX Global™ (“NAVEX”) today announced it will be acquired by Vista Equity Partners (“Vista”), a leading private equity firm focused on software, data and technology-enabled businesses. The acquisition will accelerate investments in governance, risk and compliance solutions and expand the role of software-as-a-service in unlocking workplace cultural change.
“Vista’s investment provides a significant opportunity for us, and more importantly, for our clients, the largest community of ethics and compliance professionals in the world,” said NAVEX President Bob Conlin. “We serve more than 8,000 customers with our innovative solutions, unmatched expertise, and unrelenting focus on customer service. Partnering with Vista, we can strengthen our vision of transforming and defining the next generation of ethics and compliance solutions and services.”
A growing volume of global regulations and stricter enforcement of laws are driving companies to implement more sophisticated ethics and compliance programs that are highly scalable and technology-enabled. With multiple offices in the U.S. and the U.K., NAVEX offers policy and case management software, internal reporting solutions, automated third party risk management, online training, and advisory services to help organizations manage and remediate key workplace compliance risks. The company currently serves organizations across multiple industries, including nearly three-quarters of the Fortune 100 and more than half of the Global 500.
“We are facing a seminal shift in how organizations around the world advance, integrate and scale their ethics and compliance programs,” said Shanti Atkins, founder and executive chairman of NAVEX Global. “The scope of the risk goes far beyond compliance concerns. These are now widely recognized as mandatory programs that touch every employee, materially enhance enterprise business value, and help to protect an organization’s greatest assets. Together with Vista, we share a vision for exceptional product and service innovation, advancing our position as the leading global ethics and compliance company.”
Vista is a leading private equity firm with over $13.5 billion in cumulative capital commitments, focused on investments in software, data and technology-enabled companies. Vista has an extensive track record of successful transactions, and helps its companies achieve operational, product and customer service excellence by contributing professional expertise and proven best practices. Vista will purchase NAVEX from the company’s current private equity partner, The Riverside Company.
“NAVEX is the leading provider in the growing ethics and compliance market because they deliver unrivaled expertise and a unified approach to managing risk,” said Robert F. Smith, Chairman and CEO of Vista Equity Partners. “We are excited to build on that success, continuing to serve the needs of current customers while enhancing the NAVEX platform and exploring new opportunities to accelerate growth.”
Deutsche Bank and Piper Jaffray are advising NAVEX Global on the transaction that is expected to close later this year. Financial terms have not been disclosed.
About NAVEX Global
NAVEX Global helps protect your people, reputation and bottom line through a comprehensive suite of ethics and compliance software, content and services. The trusted global expert for more than 8,000 clients in 200+ countries, our solutions are informed by the largest ethics and compliance community in the world. More information can be found at www.navexglobal.com. Learn more about NAVEX Global by following us online: @NAVEXGlobal, LinkedIn, Facebook, and SlideShare.
About Vista Equity Partners
Vista Equity Partners, a U.S.-based private equity firm with offices in Austin, Chicago and San Francisco, with over $13.5 billion in cumulative capital commitments, currently invests in dynamic, successful 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.