Private equity firm EQT is nearing a deal to acquire compliance software maker Avetta for more than $3 billion, including debt, according to people familiar with the matter.
EQT has prevailed in a sale process run by Avetta’s owner, private equity firm Welsh Carson Anderson & Stowe, the sources said. If the negotiations conclude successfully, a deal could be reached as early as this week, the sources added.
The sources requested anonymity because the matter is confidential. Avetta, Welsh Carson and EQT did not immediately respond to requests for comment.
Avetta’s software helps companies monitor their supply chains. Founded in 2003, the Lehi, Utah-based firm’s offerings are used in more than 120 counties, according to its website.
Welsh Carson acquired a majority stake in Avetta in 2018 for an undisclosed amount. A year later, Welsh Carson merged Avetta with BROWZ, another software vendor focused on supply chain risk management.
Source: Reuters.com