Vista Equity Partners adds Autotask Corp to portfolio

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autotaskPrivate equity firm Vista Equity Partners has bought hosted IT business management software provider Autotask Corporation.

The New York-based company’s technology helps users manage service ticketing, accurately capture and track billable hours, meet service level agreements, track expenses and employee utilization, and aggregate customer and employee data.

Vista principal Alan Cline said, “Autotask has a long history of dedicating itself to customer-centric solutions and has built a strong foundation for sustained, long-term growth.

“We are very pleased to be working with the Autotask team to expand and enhance the company’s solutions to help IT service providers more efficiently and effectively meet their clients’ changing needs.”

Vista recently held a first close of $3.8bn for its fifth fund, beating its $3.5bn target.

Fund V has a hard cap of $5.75bn and has amassed around $11.5bn of demand, according to a PeHUB report.

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