Investment firm Vista Equity Partners has agreed to acquire Acumatica, a provider of cloud Enterprise Resource Planning (ERP) solutions for small and mid-sized businesses.

This acquisition will see Vista Equity Partners take ownership from EQT, which will no longer hold an investment in Acumatica.

The deal values the company at about $2bn including debt, Bloomberg reported citing people familiar with the matter.

Vista Flagship Fund co-head and senior managing director Monti Saroya said: “Acumatica is an ascendant, cloud-native ERP platform that has become a leading provider of mission-critical tools that enable small and mid-sized businesses to run more efficiently and effectively.

“With its industry-leading, strong partner ecosystem and growing presence in markets embracing cloud-based business technology, we believe Acumatica is well-positioned to lead the shift toward modern, integrated ERP solutions.”

Acumatica’s cloud-native ERP platform supports a range of mid-market organisations by digitally managing and automating critical processes.

These processes include core financial management, payroll, and customer relationship management within a single, unified system.

The platform’s open, flexible architecture offers AI-driven, real-time visibility across businesses.

The ERP platform is equipped with industry-specific functionality tailored to complex sectors such as manufacturing, distribution, construction, retail, and professional services.

Acumatica Cloud ERP is designed for more connected, collaborative ways of working, supporting small and mid-market companies in thriving within the digital economy.

Acumatica’s solution is flexible and customer-friendly, offering industry-specific functionality that helps growing businesses adapt to fast-moving markets.

Acumatica CEO John Case said: “Our partnership with Vista not only marks a significant milestone in Acumatica’s history but also is a strong endorsement of the real-world value we deliver to the market and our customers.

“Vista’s investment can help power our AI-first product strategy and further strengthen our thriving Community of partners, developers and customers, working together to find better ways to work and redefine business management software for everyone. With Vista’s support and track record of growing software companies, we believe we’re positioned to accelerate product development, deepen partner engagement and extend our impact.”