Private equity makes a SaaS play
- By Nick Wakeman
- Jul 10, 2014
Social Solutions, a provider of software as a services solution for performance management software for human and social services, has agreed to sell itself to Vista Equity Partners.
Terms of the deal were not disclosed
With its SaaS solution, Baltimore-based Social Solutions supports social services programs for governments and non-profit organizations.
In particular, the software allows users to related efforts to outcomes and “turn good intent into measurable change,” the company said in a statement.
The information allows organizations to create and implement more effective programs.
“Our team is deeply committed to helping public and nonprofit agencies demonstrate results and improve outcomes,” said Scott Johnson, CEO of Social Solutions.
The sale to Vista, a private equity group, is a demonstration of their commitment, Johnson said.
“Vista’s financial strength and extensive software industry experience make them an ideal partner to help us realize our plans for growth and innovation while maintaining high levels of satisfaction and support for our customers,” he said.
Vista was attracted to Social Solutions because of its high customer satisfaction, strong market position and talented employees, said Alan Cline, principal at Vista.
Houlihan Lokey acted as financial advisor to Social Solutions. The transaction is expected to close this summer.
Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.