(Bloomberg) -- Private equity firm CapVest Partners has agreed to acquire virtual data room operator Datasite.
Minneapolis-based Datasite provides software for merger-and-acquisition dealmakers to market and prepare deals. Its applications also allow users from both the sell-side and buy-side in a transaction to perform due diligence and review confidential data.
Terms of in the Datasite transaction weren’t disclosed in a statement Monday.
Global M&A volume fell to $2.6 trillion this year from $3.8 trillion a year ago as travel restrictions during the coronavirus pandemic raised hurdles to dealmaking, according to data compiled by Bloomberg.
Datasite’s revenue increased more than 30% in 2019 and it facilitated close to 10,000 deals during that year, according to the statement.
“We have the best people and the best technology, making transactions faster, simpler, and more secure,” Datasite Chief Executive Officer Rusty Wiley said in the statement. “CapVest’s long track record of transforming the size and scale of their portfolio companies and enabling them to realize their potential makes them an exciting partner for our next phase of growth.”
Datasite is London-based CapVest’s first investment in a U.S.-based company, according to its website. The transaction is expected to close this year, according to the release.
Goldman Sachs Group Inc. and Akin Gump Strauss Hauer Feld advised Datasite on the transaction. CapVest was advised by William Blair, Kirkland & Ellis LLP and KPMG.
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