Robert F. Smith’s Vista Equity Partners has acquired Jaggaer, a global leader in enterprise procurement and supplier collaboration software, from Cinven.

The acquisition aligns with Vista Equity Partners’ goal of investing in artificial intelligence after its record-breaking $20 billion raise. 

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More About Jaggaer

Jaggaer provides configurable source-to-pay and supplier collaboration software through a unified platform for direct and indirect procurement processes. 

The company’s AI-enabled solutions help optimize and automate sourcing, spend management, contracting, eProcurement, invoicing, and supply chain visibility for more than 1,400 customers globally.

“This new partnership with Vista underscores Jaggaer’s strong momentum and the compelling value our intelligent software delivers by helping our customers manage and automate complex processes while enabling a highly resilient, responsible, and integrated supplier base,” said Andy Hovancik, CEO of Jaggaer in a press release. “Vista is a highly experienced software investor, and I’m confident they will be an exceptional partner to Jaggaer during this exciting next phase of growth and opportunity.”

A Strategic Acquisition For Vista Equity Partners and Jaggaer

Vista Equity Partners is backing its claim after its eighth flagship fund to invest heavily in AI. After the $20 billion raise in April 2024, Smith said, “You will also hear more about how we have adopted generative artificial intelligence not just as a tool but as a pivotal component of our value creation and underwriting processes.”   

“This has enabled us to identify and capitalize on opportunities, including dramatically expanding TAM (Total Available Market), product innovation, and GTM (Go-To-Market) strategies, with greater precision and speed, ensuring that we stay ahead of the curve in a rapidly evolving market landscape,” he adds.

This strategic acquisition positions both organizations to benefit from the growing demand for AI-powered procurement and supply chain management solutions. 

“Jaggaer’s comprehensive solution enables customers to manage all procurement activities from an intuitive platform that harmonizes and optimizes disparate spend data,” said Sam Payton, Senior Vice President at Vista. 

“Jaggaer is led by a high-performing leadership team with a demonstrated commitment to operational excellence and a bright vision for the future of AI-powered spend management. We’re excited to support an organization that cares deeply about its customers, partners, and mission, he continued.”

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Robert Smith’s Vista Equity Partners

Billionaire investor Robert F. Smith launched Vista Equity Partners in 2000. The American private equity firm invests in software, data, and technology-enabled businesses. 

With more than $100 billion in assets, Vista is one of the best-performing private equity firms, posting annualized returns of 31% since inception. Some of the firm’s portfolio companies include Aderant, Accruent, Brainware, Bulhorn, Centralsquare, Dispatch, Eagleview, Granicus, Gatekeeper, Infoblox, Jamf, and Klarna.