Private Equity Firm Acquires Business Software Maker Autotask
Autotask automates routine functions such as service ticketing, capturing and tracking billable hours and tracking expenses.Front- and back-office business management software maker Autotask is going the route of an increasing number of IT companies--being acquired by a private equity investment firm. San Francisco-based Vista Equity Partners will be the new owners. Vista claims about $11.5 billion in cumulative capital commitments in software, data and technology-enabled services companies. Financial terms were not disclosed. The New York-based Autotask software automates routine functions such as service ticketing, capturing and tracking billable hours, meeting service level agreements, tracking expenses and employee utilization, and aggregating customer and employee data.
Autotask's platform contains built-in workflow functionalities that include service desk, CRM, dispatch, billing, project management and contracts management, as well as a client portal that allows customers to engage directly with their clients and remediate IT support tickets.