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Spectrum Equity Management invests in Datassential

Food service industry-focused market research provider Datassential received a significant growth investment from equity firm Spectrum Equity Management LP.

Financial terms of the deal were not disclosed.

The investment is expected to help Datassential continue its growth, expand its sales and marketing capabilities, and increase product innovation, according to a Sept. 16 release.

As part of the deal, Jeff Haywood, Michael Radonich and Mike Farrell from Spectrum Equity Management will join Datassential's board.

Latham & Watkins LLP offered legal counsel to Spectrum Equity Management in connection with the deal. Meanwhile, Sklar Kirsh LLP acted as Datassential's legal adviser and Intrepid Investment Bankers offered financial advisory services to the company.