Equity Partners has launched Turaz, the result of its acquisition
of Thomson Reuters' Trade and Risk Management business.
"Closing this deal with Thomson Reuters and acquiring what is
already a very successful business in its own right is a great
strategic transaction for Vista," said Robert F. Smith, Vista's
founder and CEO. "We will apply our proven expertise in growing
dynamic, successful technology-based organisations that deliver a
great customer experience. We look forward to supporting the Turaz
management team as they continue to grow the company and realise
its full potential."
A US-based private equity firm, Vista Equity Partners has
invested more than $5 billion in capital, primarily focused on
companies that develop mission critical enterprise software
Turaz will be based in London and will retain its global
presence. Bret Bolin, who has successfully led a number of software
companies within the Vista Equity Partners' portfolio during the
past 12 years, will serve as President and CEO of the new
He said: "In terms of strategic priorities moving forward, first
and foremost is our commitment to providing customer value and
delivering on our road map. This is demonstrated by the launch of
Kondor+ 3.3. The new version has already been positively received -
with both new named clients and upgrades from our existing customer
base. In the coming months, we will also be engaging with our
clients to discuss how we can best work together to improve our
business. I look forward to our continued collaboration as we grow
our global footprint to best serve our customers' needs."
Tom Dawkins, Director of Strategic Programmes at Turaz, said
Vista had built up an extensive knowledge of how to run software
companies effectively and improve products and services for
customers. Best practice and ideas are shared between the portfolio
of Vista companies. "Being a part of Vista's portfolio is like
being part of a large software business, rather than a standalone,
private equity owned company," he said.
The acquisition by Vista will enable Turaz to focus on
developing software that meets its customers' needs, without the
distraction of the short-term targets tied to quarterly results
that come with being part of a public company, said Mr Dawkins.
Turaz will also continue its global operations, which he says
are an important differentiator for the company.
"Vista's philosophy is to focus on customer satisfaction by
delivering market-leading products and great service. If you get
this right, business growth is assured," says Mr Dawkins. "A high
percentage of clients of Vista's portfolio companies report
improved satisfaction with customer service and product quality
following acquisition by Vista."
Turaz will build on the progress made in the past five years
that have led to Kondor+ becoming an award-winning software
solution for the financial industry, he said.