FRISCO, Texas, Sept. 10, 2024 /PRNewswire/ -- Redwood Software
("Redwood"), a leader in automation fabric solutions, today
announced that it has agreed to be acquired by funds affiliated
with Vista Equity Partners ("Vista"), a global investment firm
focused exclusively on enterprise software, data and
technology-enabled businesses, and Warburg Pincus, a leading global
growth investor. Terms of the transaction were not disclosed; the
transaction is subject to customary conditions and approvals.
Redwood's automation fabric solutions help customers compose,
orchestrate and manage business and IT business processes across
any application, service or server with confidence and control. In
June, Redwood announced that it had added over 1,000 new customers
since mid-2023 while consistently delivering above 'Rule of
60' financial performance. Redwood currently serves more than 7,500
customers globally, including 28% of the Fortune 500 and 40% of the
Fortune 50.
"We are honored to join forces with Vista Equity Partners and
Warburg Pincus. The wisdom, experience and operating expertise of
these two leading global technology investors will accelerate our
vision to unleash human potential through the transformative power
of automation," said Kevin Greene,
Redwood Software CEO. "We are excited to embark on the next chapter
of the Redwood Software story - where every IT and business process
that can be automated, will be automated, and where automation
fabrics will change everything about how and why people work."
"Redwood's easy-to-use and highly integrated automation
solutions help enterprises automate the critical workflows which
power their core commercial and IT operations," said Steven White, Managing Director at Vista Equity
Partners. "We are excited to partner with Redwood and Warburg
Pincus to deliver even more customer value and efficiency as the
demand for automation solutions capable of spanning multiple data,
application and cloud environments continues to accelerate."
"As a leading next generation enterprise automation platform,
Redwood enables businesses to streamline and optimize their
mission-critical business processes, an essential service as
enterprise IT becomes increasingly complex. We believe that Redwood
is well-positioned to capture the growth in the market given the
company's strong capabilities in business and IT automation and are
excited to continue investing in Redwood's innovative solutions
both organically and through strategic M&A," said Parag Gupta, Managing Director, Warburg Pincus.
"We look forward to the partnership with Redwood and Vista in this
next phase of growth."
"It has been our privilege to support Redwood on its remarkable
journey as it continues to build one of the leading automation
software companies in the world," noted Matthew Amico, Partner at Turn/River Capital.
"Throughout our partnership, Redwood has experienced significant
growth, and with its strong set of automation products and
exceptional team led by Kevin
Greene, we believe strongly that the best is yet to
come."
Goldman Sachs & Co. LLC is serving as exclusive financial
advisor to Redwood; Orrick, Herrington & Sutcliffe LLP is
serving as legal counsel to Turn/River Capital and Redwood.
Kirkland & Ellis LLP is serving as legal counsel to Vista.
Cleary Gottlieb Steen & Hamilton
LLP is serving as legal advisor to Warburg Pincus.
About Redwood Software
Redwood Software is the leader
in full stack automation fabric solutions for mission-critical
business processes. With the first SaaS-based composable automation
platform specifically built for ERP, we believe in the
transformative power of automation. Our unparalleled solutions
empower you to orchestrate, manage and monitor your workflows
across any application, service or server — in the cloud or on
premises — with confidence and control. Redwood's global team of
automation experts and customer success engineers provide solutions
and world-class support designed to give you the freedom and time
to imagine and define your future. Get out of the weeds and see the
forest, with Redwood Software. For more information, visit
www.redwood.com. Follow Redwood Software on LinkedIn, @Redwood
Software.
About Vista Equity Partners
Vista is a leading global
investment firm with more than $100
billion in assets under management as of March 31, 2024. The firm exclusively invests in
enterprise software, data and technology-enabled organizations
across private equity, permanent capital, credit and public equity
strategies, bringing an approach that prioritizes creating enduring
market value for the benefit of its global ecosystem of investors,
companies, customers and employees. Vista's investments are
anchored by a sizable long-term capital base, experience in
structuring technology-oriented transactions and proven, flexible
management techniques that drive sustainable growth. Vista believes
the transformative power of technology is the key to an even better
future – a healthier planet, a smarter economy, a diverse and
inclusive community and a broader path to prosperity. Further
information is available at vistaequitypartners.com. Follow Vista
on LinkedIn, @Vista Equity Partners, and on X, @Vista_Equity.
About Warburg Pincus
Warburg Pincus LLC is the oldest
private equity firm and a leading global growth investor. The firm
has more than $83 billion in assets under management. The
firm's active portfolio of more than 225 companies is highly
diversified by stage, sector, and geography. Warburg Pincus is an
experienced partner to management teams seeking to build durable
companies with sustainable value. Since its founding in 1966,
Warburg Pincus has invested more than $117 billion in
over 1,000 companies globally across its private equity, real
estate, and capital solutions strategies. The firm is headquartered
in New York with offices
in Amsterdam, Beijing, Berlin, Hong
Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San
Francisco, São Paulo, Shanghai, and Singapore. For more
information, please visit www.warburgpincus.com. Follow us
on LinkedIn.
About Turn/River
Turn/River Capital is a lower middle
market private equity firm that uses a proprietary growth
engineering strategy to drive revenue acceleration and build
enduring value. Turn/River partners with B2B software companies and
provide data-driven methods, hands-on operational support and
flexible capital to catalyze the next phase of growth. The firm's
team of equal software operators and investors have firsthand
experience scaling go-to-market and solving its challenges. Founded
in 2012 in San Francisco,
Turn/River invests globally with a particular focus in North America and Europe. For more information,
visit www.turnriver.com.
Media Contacts
For Redwood Software
Liz
Reilly
lreilly@nextpr.com
(401) 525-1775
For Vista Equity Partners
Brian Steel
media@vistaequitypartners.com
(212) 804-9170
For Warburg Pincus
Kerrie
Cohen
kerrie.cohen@warburgpincus.com
(917) 887-9184
For Turn/River
Katie
Duckhorn
media@turnriver.com
(901) 832-0680
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