Vista Equity Partners and Harvest Partners are considering selling Granicus, a government software company, for around $4 billion. The process is in the early stages, and investment banks Jefferies and William Blair have been hired to run the sale. Granicus, based in Denver, provides cloud-based software to governments.
It helps manage websites, handle public records, and improve communication between citizens and officials. Vista bought a majority stake in Granicus in 2016 and merged it with GovDelivery, another software firm it owned. In 2020, Harvest Partners bought a significant stake in Granicus from Vista and K1 Investment Management.
Vista and Harvest consider Granicus sale
Sources say the plans are still being finalized, and the timing of the sale could change. Vista and Harvest are looking for a valuation of more than 20 times Granicus’ EBITDA of about $175 million.
Vista declined to comment, while Harvest, Granicus, Jefferies, and William Blair did not respond to requests for comment. The potential sale follows other big deals by private equity firms in software. In August 2024, Summit Partners and Vista invested in Trintech, a US software company.
In November 2023, Blackstone and Vista agreed to buy Energy Exemplar, an Australian software company, for over $1 billion. Granicus remains an important provider of technology that helps governments work effectively and engage with citizens.
Image Credits: Photo by Abbe Sublett on Unsplash
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