A consortium led by Robert F. Smith, America’s richest Black billionaire, has reached an agreement to acquire a majority stake in Nasuni, a well-known hybrid cloud storage company.
Vista’s $1.2 billion acquisition strengthens its position in the continuously shifting technology investment sector. Vista’s partnership with KKR & Co. and TCV intends to strengthen Nasuni’s market position and accelerate its growth trajectory.
Nasuni, founded in 2009 and headquartered in Boston, offers a platform for organizations to store, protect, and collaborate on data across multiple locations at scale. The company’s cloud solutions are used by over 850 businesses in 70 countries.
Nasuni announced a 30% increase in yearly recurring revenue for 2023 in January, as well as the acquisition of over 120 new enterprise customers, including Patagonia Inc., Autodesk Inc., and Vermont.
Nasuni is backed by Vista Equity Partners, which is investing through its middle market-focused Foundation fund. This follows Vista’s recent acquisition of energy software supplier Energy Exemplar, as well as Blackstone Inc. and Bain Capital’s deal to acquire Vista-backed education software provider PowerSchool Holdings Inc. for around $5.6 billion last month.
Nasuni CEO Paul Flanagan stated that the new investment would assist the company’s ambition to become “a multibillion-dollar company in a multibillion-dollar market,” implying that Nasuni has the potential to be a huge publicly traded entity.
Robert F. Smith, who founded Vista Equity Partners in 2000, is known for his visionary leadership, which has driven the firm to prominence in the software, data, and technology sectors. Smith has a net worth of $11.4 billion and has led Vista through over 610 transactions worth $302 billion, resulting in remarkable returns for investors.
Vista Equity Partners’ newest purchase, together with its strong track record and robust portfolio of over 85 companies, maintains its position as a private equity trailblazer. The firm is still well-positioned to capitalize on new technological investment opportunities, utilizing Smith’s strategic vision and Nasuni’s unique solutions to generate continuing expansion and success in the global marketplace.