In 2025, take-private transactions for enterprise software companies have held their ground despite overall dealmaking slumping. Notable deals include Turn/River Capital's $4.4 billion acquisition of SolarWinds from Thoma Bravo and Silver Lake, Silver Lake and GIC's $1.7 billion deal to purchase Zuora, and Blackstone and Vista Equity Partners' $8.4 billion acquisition of Smartsheet. These transactions highlight the resilience of software companies in defensive sectors during market volatility.

Vista Equity Partners, a leading private equity firm known for its investments in enterprise software, has hired Dan Parant as the global head of its private wealth solutions business. This move is part of Vista's strategy to expand into the private technology investment sector, where individual investors hold about 50% of global assets under management, expected to rise to nearly 70% by 2023, according to Bain & Co. Vista had $100 billion in assets under management as of September 30, 2024. The firm's latest deal, a $4 billion take-private of EngageSmart Inc., closed in January 2025.

Kahn Swick & Foti, LLC and former Louisiana Attorney General Charles C. Foti, Jr. are urging investors to file applications in a class action lawsuit against EngageSmart, Inc. due to alleged misstatements regarding its take-private merger with Vista Equity Partners. Investors have until December 9, 2024, to submit their claims.

ClaimsFiler reminds investors that they have until December 9, 2024, to file lead plaintiff applications in a securities class action lawsuit against EngageSmart, Inc. The lawsuit involves alleged material misstatements and omissions related to the take-private acquisition of EngageSmart by Vista Equity Partners Management, LLC and its affiliates.

Pomerantz LLP has filed a class action lawsuit against EngageSmart, Inc. concerning alleged violations of federal securities laws in connection with the January 2024 take-private acquisition by Vista Equity Partners Management, LLC and its affiliates. The complaint alleges conflicts of interest from financial and legal advisors, leading to a tainted and unfair sales process.