Private equity firms Haveli Investments and General Atlantic have reached a significant agreement to acquire Certinia, a business software vendor, from Advent International for an approximate total of $1 billion, which includes debt.
As part of the deal, Haveli and General Atlantic will purchase Advent’s majority stake in Certinia, as well as the minority stake currently held by Technology Crossover Ventures (TCV). Salesforce, which currently owns less than 10% of Certinia, will retain its stake in the company.
Headquartered in San Jose, California, Certinia is a prominent provider of enterprise resource planning software, serving well-known corporations such as Siemens, Hewlett Packard Enterprise, Cisco Systems, and Philips.
Haveli, based in Austin, Texas, was founded in 2021 by former Vista Equity Partners president Brian Sheth. This acquisition of Certinia marks Haveli’s first major transaction since its establishment. The firm is actively seeking over $3 billion for software deals, including the purchase of Certinia.
Notably, last year, Apollo Global Management invested $500 million in Haveli’s investment funds, establishing a strategic partnership that granted Haveli access to Apollo’s resources to aid in its expansion.
Advent International’s initial investment in Certinia dates back to 2014 when the company operated under the name FinancialForce. In a recent rebranding move, the company adopted the name Certinia this year.