Vista Equity Laying Groundwork to Move Three San Diego Companies
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software investments, and currently has about $7.7 billion invested in a portfolio that includes Atlanta-based Aderant (law practice management software), Austin, TX-based Accruent (commercial property management software), and Carrollton, GA-based Greenway Medical Technologies (IT systems for physician practices).
The first of Vista Equity’s three San Diego acquisitions this year was Websense. The $1 billion deal that was announced on May 20 and closed on June 25. The network security firm was founded in 1994 with software that enabled corporations and other customers to prevent their employees from visiting non-business-related websites. The company went public in 2000, and expanded its offerings to include a variety of technologies that protect organizations from cyber attacks, data theft, and other types of Internet security breaches. At the end of 2012, Websense had more than 1,600 employees around the world, according to its annual report, including more than 500 in San Diego.
Vista Equity’s $800 million purchase of Qualcomm’s Omnitracs division was announced on August 23, and was completed three months later. Qualcomm (NASDAQ: QCOM) introduced the satellite-based fleet management system for long-haul trucking companies in the late 1980s, and generated enough cash from the two-way communications and tracking system to sustain Qualcomm’s development of its core wireless CDMA technology. In conjunction with the deal, Vista Equity said it also was acquiring Baltimore, MD-based Roadnet Technologies for an undisclosed price, and planned to combine Roadnet’s private fleet management software with Omnitracs. The Vista Equity buyout included Omnitracs operations throughout the United States, Canada, and South America, but the number of employees was not disclosed. Qualcomm did not disclose how many employees worked in its Omnitracs division. One estimate has the headcount at about 475 in San Diego.
Vista’s $1 billion buyout of the Active Network closed on Nov. 15, less than two months after it was announced. The Active Network, founded in 1999, provides Web-based online registration services for … Next Page »
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