Vista, led by billionaire Robert F. Smith, to acquire Acumatica in nearly $2 billion deal

Key Points

• Vista Equity Partners will acquire Acumatica from EQT, aiming to scale its AI-powered ERP platform for small and mid-sized businesses.
• With Vista’s backing, Acumatica plans to accelerate AI development, deepen partner ties, and expand its presence in the ERP market.
• The tech-focused Vista has completed over 600 deals worth over $320 billion, reinforcing its status under billionaire founder Robert F. Smith.

Vista Equity Partners, the technology investment firm led by billionaire Robert F. Smith, has agreed to acquire Acumatica, a cloud-based enterprise resource planning (ERP) software provider for small and mid-sized businesses. The deal, which includes debt, could value the Bellevue, Washington-based company at around $2 billion.

Once the transaction closes, Vista will take over ownership from Swedish investment firm EQT, which will exit as an investor. Backed by Vista’s experience in scaling enterprise software companies, Acumatica plans to sharpen its product focus, build closer ties with partners, and expand its reach in the ERP market.

Acumatica gains strategic Vista support

The company’s leadership sees the new partnership as a major step forward. “Our partnership with Vista not only marks a significant milestone in Acumatica’s history but also is a strong endorsement of the real-world value we deliver to the market and our customers,” said John Case, CEO of Acumatica. 

Case noted that Vista’s backing will help accelerate Acumatica’s AI-driven product development and deepen collaboration across its network of partners, developers, and customers. “Together, we’ll keep finding smarter ways to work and build software that helps businesses run better,” he said.

Empowering businesses with smart ERP tools

Acumatica has carved out a strong position in the ERP market by offering flexible, industry-specific solutions and working closely with a dedicated network of value-added resellers. Its cloud-native platform helps mid-market companies manage everything from finances and payroll to customer relationships—all in one system.

The software’s open architecture and AI capabilities give users real-time insight into their operations, helping them make faster, better-informed decisions. Acumatica’s platform supports a range of industries, including manufacturing, construction, distribution, retail, and professional services.

Robert F. Smith’s Vista manages $100 billion assets

Vista Equity, led by Robert F. Smith, America’s third-richest Black billionaire with a net worth of $10.8 billion, according to Forbes, manages over $100 billion in assets across a portfolio of more than 85 enterprise software and data-driven companies. Since its inception, Vista has completed over 600 transactions, representing more than $320 billion in aggregate value.

In 2024, Vista deployed $6.5 billion in capital through its private equity strategy and returned $2.6 billion to investors. The firm’s portfolio companies have executed more than 30 add-on acquisitions, expanding market share and launching new products to position themselves for long-term growth.