Vista Equity Partners LLC agreed to make a majority investment in open digital experience company Acquia Inc.
Bloomberg News reported, citing people with knowledge of the matter, that the deal values Acquia at almost $1 billion, including debt.
The investment would help accelerate Acquia's growth. Acquia will stay independent, and several of its existing investors will keep a stake in the business.
The transaction is slated to close in the coming weeks, pending regulatory approvals and other customary conditions.
Goldman Sachs & Co. LLC acted as the exclusive financial adviser to Acquia, and Goodwin Procter served as the company's legal adviser. Kirkland & Ellis served as legal adviser to Vista.
