IBL News | New York
Private equity funds Blackstone (NYSE: BX) and Vista Equity Partners announced yesterday their acquisition of Ellucian, owned by financial companies TPG Capital and Leonard Green & Partners. The transaction amount was not disclosed.
ERP software and SIS provider Ellucian has over 2,700 customers in over 50 countries.
“Digital transformation is one of Blackstone’s highest-conviction investment themes, and Ellucian has proven itself a clear leader in the fast-growing higher education technology sector,” said Eli Nagler, a Senior Managing Director at Blackstone.
Laura Ipsen, President & CEO of Ellucian, stated that “their investment strategy represents a long-horizon commitment to our company with significant new capital to accelerate digital transformation, our open SaaS platform, and international growth.”