FORMINGTON – The company announced Sunday that it has acquired a $ 3.5 billion deal with Utah-based technology company Floralsite Vista Equity Partners.
Versatile, an online technology education company, is one of the state’s rare technological unicorns to reach $ 1 billion before going public. Vista is a global investment company focusing on “enterprise software, data and technology driven businesses”.
Aaron Skonard, CEO and co-founder of Diversity Vision, says the partnership will allow the platform to reach a wider range and constantly innovate the courses and skills taught in its online courses.
“We are constantly focused on helping companies improve and enhance their technical staff and provide a more effective path for capacity change for their technical teams,” Schonard said in a statement. “The global Vista ecosystem of leading enterprise software companies provides significant resources and organizational knowledge that can open doors and stimulate our growth. We are pleased that we can use Vista’s expertise to further strengthen our market lead.”
Vista will buy all the remaining shares of the company at 26 20.26 per share, which is the premium price for the plural view. 25% of the company’s average final share price was purchased for the 30 trading days prior to the deal.
The sale is expected to close somewhat next year, at which point the plural vision will no longer be in the public market and will instead become a private company again.
The company is under a voting agreement with certain shareholders, which allowed those shareholders to agree to vote on all of their plural vision stocks in favor of the sale. Silicon Slides Company first went public in 2018 with a $ 350 million offer.
“Plural Vision and Vista share the belief that software is important to unlock opportunity and progress,” said Adrian Alonso, Vista’s Managing Director. “We are inspired by the excellent business that Plunsite has already built and look forward to collaborating with the management team to implement the company’s next phase of development and further enhance their mission of democratizing technological capabilities.”
Vista believes that in an era where the COVID-19 epidemic has forced many to move online, trends such as the high demand for talented software engineers will continue to eclipse distribution – and they believe that multitasking will help address its thousands of online courses.
“We have seen first-hand that the demand for talented software engineers continues to outweigh distribution, and with business leaders recognizing that technological innovation is important, we expect this trend to continue as we move into a hybrid online-offline world of all businesses and communications.” Monty Saroya, co-chairman and senior managing director of Vista, said in a statement. “Through its platform, diversity enables these leaders to improve productivity and provide career path opportunities across their IT professionals.”
Lauren Bennett