Insight Partners acquires stake in $3.6 billion software firm Aptean

Insight Partners acquires stake in $3.6 billion software firm Aptean

Georgia-based Aptean’s software solutions have caught major investors’ attention.

Insight Partners, a New York-based investment and venture capital firm, has announced that it will acquire a minority stake in Aptean. The acquisition comes alongside an additional stock purchase from TA Associates, one of Aptean’s existing investors. TA Associates will become the largest shareholder as a result.

Neither party released the financial details of the deal. What we do know is that Vista Equity Partners, which previously owned an Aptean share equal to TA Associates, will fully divest its stake in the company. A source familiar with the matter told Bloomberg that the latest round of investments will raise the company’s total valuation to $3.55 billion.

Aptean has been a golden child for investors

Aptean provides clients with enterprise resource planning (ERP) solutions, helping companies track data flows within their operations across departments and locations. The company has cultivated a reputation for reliability and quality, serving over 10,000 corporate customers as of 2022.

The software service provider strives to meet all customer needs, customizing their ERP solutions to meet the environment of each client. This has helped the company build a steady base of customers that renew their contracts yearly.

The company’s seamless services have always been attractive for investors looking for the next great disruptor. Vista Equity Partners first purchased shares in Aptean’s predecessor (CDC Software) in 2012, rescuing the fledgling company from bankruptcy.

Following the investment, Vista Equity merged CDC Software with Consona Corporation to form Aptean. The company has since grown to become a significant US software firm.

The company also received an investment from Charlesbank Capital Partners in 2020. According to Aptean, they will continue to be a shareholder for the foreseeable future.