EQT to acquire WSO2, a leading global provider of digital transformation technologies
- WSO2 is a leading provider of application development and identity and access management software to enterprises globally, with over 80% of revenue coming from blue-chip customers in the Americas and EMEA
- WSO2’s technology enables thousands of enterprises, including the world’s largest corporations, universities, and governments, to drive their digital transformation evolution rapidly, efficiently, and more securely
- Drawing on its extensive experience of supporting global software businesses, EQT will support WSO2’s management team in the next phase of their growth journey
EQT is pleased to announce that BPEA Fund VIII (“EQT Private Capital Asia”) has agreed to acquire WSO2 (the “Company”) from existing shareholders.
M&A EQT & WSO2
WSO2 is a leading provider of application development and identity and access management software to enterprise companies globally, with over 80% of
revenue coming from blue-chip customers in the Americas and EMEA. Financial details of the transaction have not been disclosed.
WSO2 was founded in Asia and has established a global footprint, enabling thousands of enterprises, including the world’s largest corporations, universities, and governments, to drive their digital transformation rapidly, efficiently, and more securely. WSO2 does this through a comprehensive portfolio of offerings spanning Application Programming Interface (“API”) Management, API Integration, and Identity and Access Management (“IAM”).
WSO2 Office
“What does this mean for WSO2? Upon closing, I see it as the end of WSO2 version 1 and the start of a much bigger and stronger WSO2 version 2. ……I see v2 powered by EQT as giving us an incredible foundation to deliver on our vision….” – @sanjiva Sanjiva Weerawarana, CEO & Founder.
Both the API Management and Integration as well as IAM markets are witnessing significant tailwinds, driven by long-term trends such as the transition to hybrid and multi-cloud workloads, rising API volumes, accelerated adoption of Generative AI, and increasing sophistication of cyberattacks. WSO2 is well-positioned to capitalize on this robust market growth on the back of their strong product suite and entrenched customer relationships.
EQT Private Capital Asia will support WSO2’s next phase of accelerated growth and innovation, drawing on EQT’s deep experience in the software space, global network of industry experts and dedicated digital value-creation team. WSO2 joins EQT’s extensive global portfolio of enterprise software companies that already includes firms such as Billtrust, IFS, SUSE, Storable, and Waystar.
Hari Gopalakrishnan, Partner in the EQT Private Capital Asia advisory team, said: “Software is a key focus sector for EQT, and WSO2 is a strong company that has scaled globally with an enterprise customer base spread across the US and Europe. We are excited to partner with WSO2 and believe that the Company is well-positioned to capitalize on long-term trends such as digital transformation and rising GenAI adoption. We are confident of drawing on EQT’s proven software value creation playbook to further accelerate WSO2’s growth momentum.”
“We are thrilled to partner with EQT as we embark on the next phase of WSO2’s journey,” said Dr. Sanjiva Weerawarana, CEO and Founder of WSO2. “With EQT’s support and expertise, we are well-positioned to accelerate our innovation agenda, expand our global footprint, and continue empowering enterprises to thrive in the digital economy.”
“We all succeed by standing on the shoulders of giants. WSO2 got this far because of amazing people who gave us their shoulders to stand on and solidly held our feet while we wobbled, settled & stood on our own” – @sanjiva Sanjiva Weerawarana, CEO & Founder.
Internal communication @ WSO2 https://tinyurl.com/38dpwpkj
EQT Private Capital Asia was advised by Ropes & Gray and Simpson Thacher & Bartlett. The selling shareholders were advised by JP Morgan and Cooley.
With this transaction, BPEA Private Equity Fund VIII is expected to be 45 – 50 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication). The transaction is expected to close in H2 2024.
About
About EQT
EQT is a purpose-driven global investment organization with EUR 242 billion in total assets under management (EUR 132 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.
More info: www.eqtgroup.com
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About WSO2
WSO2 is a leading provider of API management, integration, and identity and access management software. WSO2’s products and platforms empower organizations to leverage the full potential of APIs for secure delivery of digital services and applications, enabling thousands of enterprises in over 90 countries globally to drive their digital transformation journeys. Recognized as leaders by industry analysts, WSO2 has over 700 employees worldwide with offices in Australia, Brazil, Germany, India, Sri Lanka, the UAE, the UK, and the US.
More info: www.wso2.com
