US-based investment firm Vista Equity Partners has agreed to acquire Black Mountain Systems, a technology provider for credit investors and alternative asset managers.
Included in Black Mountain’s suite are investment accounting, investor reporting, portfolio management, compliance, research management, customer relationship management, as well as data warehousing solutions.
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The deal is said to facilitate Black Mountain’s domestic and global growth.
At the same time, it will infuse capital to develop the firm’s data aggregation, process management, and business reporting tools.
Vista founder, chairman and CEO Robert Smith said: “Black Mountain has long been the standard-bearer for process management and portfolio monitoring solutions in its field.
“We’re looking forward to working with this talented and innovative company to push it even further ahead of the competition, unlocking new value for both customers and stakeholders.”
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By GlobalDataThe deal, whose financial terms were not divulged, is pending regulatory approvals.
Black Mountain co-CEO Andy Horwitz said: “We’ve already established ourselves as the market leader in workflow software for credit, structured credit, and alternative asset managers and now we have a partner in Vista who will help us leverage and build upon that leadership position with financial and intellectual capital to accelerate our growth.”
Black Mountain was bought by private equity firm Stone Point Capital four years back.
