NYSE-listed Xactly to be Acquired by Vista Equity Partners

Mark McQueen

Is time moving faster, or is it simply a great technology M&A market?

News came this morning that our Fund IV portfolio company Xactly (XTLY:NYSE) has agreed to be acquired by Vista Equity Partners for US$564M.  We first backed San Jose-based Xactly as a private company in 2013; over the course of the next 12 months, we led US$25M of growth capital financings in the lead-up to the company’s successful NYSE IPO in June 2015.  Although the deal was small at seven million shares, it traded well in the months that followed (to the credit of lead underwriter JPMorgan).  Something that is never guaranteed, unfortunately.

Having gone out at US$8/share, the original IPO investors should be pleased to be receiving US$15.65 after a short 24 month hold.

This isn’t the first time we’ve seen Vista have a look at our universe.  In late 2015, Vista acquired Fund III portfolio co. Marketlive (see prior post “Vista Equity Partners to acquire Wellington Financial Fund III co. Marketlive” Nov. 25-15) and immediately merged it into in-market competitor Shopatron.

Congrats to Xactly CEO Chris Cabrera, CFO Joe Consul (see prior post “Congrats to Joe Consul of Xactly Software named CFO of the Year” Dec. 5-16), and VC backers Rembrandt Venture Partners, Bay Partners, Alloy Ventures, Key Venture Partners, Bridgescale Partners, Outlook Ventures, Illuminate Ventures and Glynn Capital Management.


Share on:

Leave a Reply

Your email address will not be published. Required fields are marked *

Wellington Financial Provides US$4 Million in Growth Capital to Agilence to Create Greater Data-Driven Profit Opportunities from Improved Store Operations and Loss Prevention

August 14th, 2017

Specialty finance firm’s investment enables cloud-based platform to focus on product development and team expansion to meet the needs of retail, grocery, pharmacy, and chain restaurant establishments MOUNT LAUREL, NJ […]

Wellington Financial Opens New York Office; Hires Robin Gill as Partner

July 17th, 2017

Wellington recruits expert technology lender from leading U.S. commercial bank to drive financings in innovative East Coast-based technology companies New York, NY & Toronto, ON – July 17, 2017 – […]

Blog: Western Business Undergrad receives Wellington Financial’s Award in Technology Evaluation & Analysis

March 2nd, 2017

Who doesn’t love it when a plan comes together?! Tony Ma, a 3rd year HBA student at Western University’s Ivey Business School, is the second recipient of the Wellington Financial LP Award in […]