Q: What was announced and what does it mean?
A: On December 11, 2018, 7Park Data announced that it has entered into a definitive agreement to be acquired by Vista Equity Partners. This means that 7Park will become one of Vista’s portfolio companies. Going forward, 7Park will remain a standalone independent company, but now privately owned by Vista.
Q: Who is Vista Equity Partners?
A: Vista is a leading global investment firm focused on software, data and technology-enabled businesses. Vista has worked with hundreds of businesses at all ends of the market, and as a result, their team of investors, operators, technologists, and entrepreneurs understand the unique challenges and opportunities of high-growth software and data companies. Collectively, Vista’s companies make up the fourth largest enterprise software company in the world. 7Park is now part of a worldwide organization consisting of more than 50 technology companies that deliver best-in-class products across 175+ countries to 800,000+ customers. Vista provides access to a vast community of resources, peers, and practice experts who can help to grow and advance 7Park.
Q: Is this good for 7Park and its customers and partners?
A: Yes, this is good news. The terms of this deal will provide immediate and substantial cash value for all shareholders. It will keep 7Park’s mission and vision on track and allow 7Park to continue its commitments to and passion for its customers and partners. The partnership with Vista allows us to accelerate product development so we can achieve greater scale, work with more partners, and develop a stronger portfolio of data products and services.
Q: How will this affect customers?
A: There are no changes to our products, services and team. 7Park remains deeply committed to delivering on its strategic product roadmap and current and future customer commitments, and all services for customers remain right in place. Vista, like 7Park, is a bold innovator. It has pioneered a unique investment and operating model for high-growth technology companies like 7Park. Vista is acquiring 7Park to invest in continued innovation and strong revenue growth. For additional information please see the press release.
Q: Will this change affect my pricing or contract with 7Park?
A: No. All customer commitments remain in place and there will be no changes to the working relationship.
Q: Will this change affect the people I am working with at 7Park such as my account manager?
A: No. You will continue to work with the same team.
Q: How will this affect partners?
A: There is no change whatsoever for partners. 7Park remains committed to co-innovation and other investments with all of our global data partners.
Q: Will there be any management changes?
A: There are no changes to management at 7Park Data, and our board now reflects Vista’s acquisition.
Q: When will the deal be final?
A: The acquisition was made final on December 3, 2018.