Vista’s investment and expertise in accelerating high-growth companies will help Applause scale and become the software quality backbone for the world’s most successful digital experiences.
August 23, 2017
BOSTON–(BUSINESS WIRE)–Applause, the global leader in digital experience quality, today announced it has entered into a definitive agreement to be acquired by Vista Equity Partners (“Vista”), a leading investment firm focused on software, data and technology-enabled businesses. The acquisition combines the unique technology and broad customer adoption of Applause Digital Experience solutions with Vista’s strategic and operational expertise for high-growth technology companies. With Vista’s backing, Applause will accelerate its market leadership for digital testing, user feedback and market insights offerings.
“This is a tremendous milestone for Applause, one which validates our mission: to deliver flawless digital experiences to the world,” said Doron Reuveni, President and CEO, Applause. “Our human-centric approach to software design and quality has become essential to ensure technology works as intended, by real people, in the real world. As we take Applause to our next stage of growth, we are delighted to partner with Vista’s second-to-none talent and expertise.”
The digital experience is becoming critical for companies as they look to interact with their customers in the most advanced and direct ways. Applause connects its clients’ software development processes with its SaaS platform to manage the largest global community of on-demand digital experience experts and to provide actionable insight into how software works in the real world. Applause’s unique and scalable approach to software testing and feedback dramatically decreases both the time and cost of delivering great digital experiences on mobile apps, websites, IoT and more.
“We are delighted that Applause is joining the Vista family. We look forward to partnering with the Applause team to spur innovation, accelerate growth and extend its market leadership in community driven digital experiences,” said Robert F. Smith, Founder, Chairman and CEO of Vista Equity Partners. “The market demand for Applause has never been stronger. It is fueled by businesses that understand that digital ‘customer experiences’ are the primary way to compete. The Applause solution enables leading digital brands to ensure that their software works across any device, in every location.”
Applause will continue to operate independently with no changes in executive leadership. The transaction is currently expected to close in the coming weeks and is subject to customary closing conditions and regulatory approvals.
Goldman Sachs & Co. LLC acted as the lead financial advisor to Applause. Jefferies LLC served as financial advisor to Vista. Latham & Watkins LLP served as legal advisor to Applause. Kirkland & Ellis LLP served as legal advisor to Vista.
Applause empowers the world’s leading digital brands – including Google, Uber, Michael Kors, and FOX – to deliver flawless digital experiences to their customers on any device, in every location. Applause ensures software quality for websites, mobile apps, IoT products and in-store interactions in a way no other approach can – through its technology platform and managed global community of over 300,000 professional, on-demand, digital experience experts. Applause delivers authentic, real-world human input at every phase of software development, delivering insight into market requirements, user feedback and software quality. Companies that use Applause benefit from flawless digital experiences that build customer loyalty, drive revenue and accelerate innovation.
Prior to the acquisition by Vista, Applause raised funding from leading investors including Accenture, Credit Suisse, Egan-Managed Capital, Goldman Sachs, Longworth Venture Partners, MassVentures, Mesco Ltd, QuestMark Partners, and Scale Venture Partners.
Learn more at https://www.applause.com.
About Vista Equity Partners
Vista Equity Partners, a U.S.-based investment firm with offices in Austin, San Francisco, Chicago, and Oakland with more than $30 billion in cumulative capital commitments, currently invests in software, data and technology-enabled organizations led by world-class management teams with long-term perspective. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies’ realizing their full potential. Vista’s investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For more information, please visit http://www.vistaequitypartners.com.
Julia Dunlea, 603-387-3191
VISTA EQUITY PARTNERS
Alan H. Fleischmann, 202-776-7776