Vista Equity Partners investment firm and Blackstone, the world’s largest alternative asset manager, bought out Assent for US$400 million in March, valuing it at $1.3 billion, The Globe and Mail reported, citing unnamed sources. Assent “has not been acquired,” spokesperson Charmaine D’Silva said in an email to The Logic, but she confirmed Vista had increased its investment in the business. D’Silva declined to comment on the size of Vista and Blackstone’s stakes in the company. (The Globe and Mail, The Logic)
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Vista Equity Partners investment firm and Blackstone, the world’s largest alternative asset manager, bought out Assent for US$400 million in March, valuing it at $1.3 billion, The Globe and Mail reported, citing unnamed sources. Assent “has not been acquired,” spokesperson Charmaine D’Silva said in an email to The Logic, but she confirmed Vista had increased its investment in the business. D’Silva declined to comment on the size of Vista and Blackstone’s stakes in the company. (The Globe and Mail, The Logic)
Talking point: Assent works with around 1,000 industrial companies like Honeywell, Boeing, General Electric and Johnson & Johnson, which use the firm’s software platform to track supply chain partners for regulatory and ethical adherence. Assent was previously valued at US$1 billion ($1.27 billion at the time) in a US$350 million financing round. Last year, it reportedly hit annual recurring revenue of $100 million. The company currently has around 1,000 employees and appointed a new chief executive officer, Michael Southworth, in late May.
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