Caltius Equity Partners announced on Feb. 22 the sale of its portfolio company Vision Technology Solutions, a website developer for government organizations in the U.S. and Canada, to cloud-based software developer Granicus for an undisclosed amount.
Caltius Equity of West L.A. will maintain an interest in the business through its partial ownership stake in Granicus. Washington, D.C.-based Granicus acquired Vision to create an integrated developer of website, as well as communication and legislative management software, for governments, the company said in a press release.
Caltius Equity buys and builds lower-middle market companies in business services, industrial services, IT and consumer services. The firm invests from $10 million to $30 million per transaction for controlling or substantial minority ownership positions in businesses generating earnings before interest, taxes, depreciation, and amortization from $4 million to $12 million.
Technology reporter Garrett Reim can be reached at firstname.lastname@example.org. Follow him on Twitter @garrettreim for the latest in L.A. tech news.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Glendale Bank Purchased for $44 Million
- Marlin Equity Partners Acquires AddStructure, Merges It with Bazaarvoice
- Investment Fund Vision Esports Raises $38 Million
- Vision Internet Secures Investment
- Silicon Beach Report Feb 22: Kylie Jenner’s Tweet Cuts $1.3 Billion of Snap's Market Value
- Silicon Beach Afternoon Report June 20: Snapchat Expands Advertising
- Caltius Equity Partners Sells Stake in MC Sign; Deal Valued at $100 Million
- Clearlake Capital Sells Software Firms to Centerbridge Partners for $1.26 Billion