By Milana Vinn and Anirban Sen
(Reuters) – Private equity firms Haveli Investments and General Atlantic have agreed to acquire business software vendor Certinia from Advent International for nearly $1 billion including debt, according to people familiar with the matter.
Haveli, which was launched by former Vista Equity Partners president Brian Sheth, and General Atlantic will buy Advent’s majority stake in Certinia as well as a minority stake held by Technology Crossover Ventures (TCV), the sources said.
Salesforce, which owns less than 10% of Certinia, will roll over its stake as part of the deal, the sources added.
The sources asked not to be identified ahead of the deal’s announcement later on Wednesday. Haveli, General Atlantic and Advent declined to comment. Representatives for Certinia, TCV and Salesforce did not immediately respond to requests for comment.
San Jose, California-based Certinia is a provider of enterprise resource planning software and counts several top corporations, including Siemens, Hewlett Packard Enterprise, Cisco Systems and Philips, among its clients.
Austin, Texas-based Haveli has invested in some technology ventures since it was launched by Sheth in 2021. The Certinia deal marks the first major transaction for Haveli since its inception.
Haveli has launched a fund seeking more than $3 billion for software deals, which will include this one.
Last year, Apollo Global Management invested $500 million in Haveli’s investment funds as part of a strategic partnership that would give Haveli access to Apollo’s resources and help it scale up.
Advent first invested in Certinia in 2014 when the company was known as FinancialForce. It rebranded to Certinia this year.
(Reporting by Milana Vinn and Anirban Sen in New York; Editing by Jamie Freed)