TA Associates Acquires Mitratech, Vista Said to Net 8.7x Return
September 17, 2015
TA Associates has acquired a majority stake in Mitratech, a provider of enterprise legal management solutions for corporate legal departments, from Vista Equity Partners. The deal is reported to be valued at $300 million and give Vista a roughly 8.7x return on its 2011 investment. Mitratech delivers solutions for spend management, e-billing, contracts management and more, serving over 750 organizations and 100,000 users worldwide. During Vista's holding period, the company's client base grew by almost 500% and revenue tripled. As part of the transaction, TA Associates' Hythem El-Nazer and Ashu Agrawal will join Mitratech's Board of Directors.