Warburg Pincus, one of the world’s largest private equity companies, has signed a deal to acquire information processing for Vermont, a company that develops software for beverage distributors, for around $1 billion, including debt, according to Reuters. I linked them.
The contract has been finalized and is expected to be announced in the coming days, sources said it is requesting anonymity as details are confidential.
Warburg Pincus declined to comment, and Vermont’s information processing has not yet responded to requests for comment.
“The agreement has been signed and could be announced in the coming days,” sources said, requesting anonymity as the issue is confidential, Reuters reported.
Vermont Information Processing was founded in 1972 by electrical engineer Howard Aiken as a billing service for beer, wine and soda distributors. The Colchester, Vermont-based company now offers software that supports warehouse and inventory management, cost savings and sales forecasting. The client list includes major brewers such as Heineken, Boston Beer and Guinness.
Headquartered in New York, Warburg Pincus manages more than $86 billion in assets. The company’s portfolio spans over 230 companies across multiple industries. We’ve also supported several high-tech startups, some of which we’ve mentioned before.
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