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Private Equity Firm EQT Agrees to Buy Software Maker Avetta From Welsh Carson


(Reuters) – Private equity firm EQT said on Tuesday it has agreed to buy compliance software maker Avetta from Welsh, Carson, Anderson & Stowe (WCAS).

Reuters reported on Monday citing sources that EQT had prevailed in a sale process run by Avetta’s owner WCAS, valuing it at roughly $3 billion, including debt.

The Stockholm, Sweden-based investment firm is buying Avetta through its EQT X fund.

The sale comes at a time when global supply chains have seen significant disruptions due to geopolitical turmoil and natural disasters. Major corporations are ramping up spending and looking to create resilient supply chains in a bid to minimize risk.

Avetta’s software helps companies monitor their supply chains. Founded in 2003, the Lehi, Utah-based firm’s offerings are used in more than 120 counties, according to its website.

The companies did not disclose the financial terms of the deal.

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Welsh Carson and EQT did not immediately respond to Reuters’ requests for comment seeking additional information on the terms of the transaction. Avetta declined to comment on financial terms.

Welsh Carson acquired a majority stake in Avetta in 2018 for an undisclosed amount. A year later, Welsh Carson merged Avetta with BROWZ, another software vendor focused on supply chain risk management.

(Reporting by Priyanka.G in Bengaluru; Editing by Krishna Chandra Eluri)

Copyright 2024 Thomson Reuters.



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