RADNOR, Pa.--(BUSINESS WIRE)--Peak Equity Partners, a private equity firm focused on the enterprise software market, today announced that it sourced and co-led the acquisition of EnterpriseDB (EDB), the leading provider of enterprise-class solutions based on Postgres, an advanced enterprise-class open source database.
Postgres has advanced significantly in recent years to deliver the performance and stability global brands require but at a fraction of the cost of traditional, proprietary vendors. EDB extends Postgres with enterprise-class performance, security and manageability enhancements for its Postgres Plus family of products. In addition, EDB provides a suite of Postgres offerings for performance optimization, replication, high availability, backup and recovery and database compatibility for Oracle. EDB also works with an ecosystem of partners worldwide to build and deliver comprehensive enterprise solutions with Postgres end users.
Today, more than 2,700 enterprises, including 64 of the Fortune 500 companies and 111 of the Forbes Global 2000 as well as governments and other organizations, use EDB’s products and services to significantly reduce their database costs. The company has reported a subscription revenue CAGR of over 50% since 2011. Placing EDB alongside the largest traditional database vendors, Gartner positioned the company in the Leaders Quadrant in the recent Gartner report, Magic Quadrant for Operational Database Management Systems*.
“Open source has established an exceptional track record in the enterprise space with the success of open source technology layers like the Linux Operating System, JBoss Enterprise Application Platform, and Apache Web Services,” said Paul Winn, co-founder and managing partner of Peak Equity Partners. “Open source databases, led by Postgres, have the opportunity to complete the stack for mission-critical applications, and are fast becoming a strategic solution component for IT executives.”
“EnterpriseDB is an exceptionally strong company with a proven track record of success,” said Greg Case, co-founder and managing partner of Peak Equity Partners. “Over the past three years, they’ve been able to deliver a feature-rich, enterprise-hardened solution with a full array of data management offerings and services that meet the requirements of the most demanding applications.”
“This is an exciting time to be working with Postgres,” said Ed Boyajian, CEO and President, EnterpriseDB. “EDB and Postgres meet the strict demands of the enterprise, but with a dramatically lower total cost of ownership. This unleashes tremendous value, and allows our clients to focus more of their resources on innovation. This investment and the support of the team at Peak Equity Partners will allow us to accelerate our momentum, expand client offerings and strengthen our partnerships while continuing to support the Postgres community.”
EnterpriseDB will use the proceeds to fund an aggressive expansion plan. Terms of the deal were not disclosed.
*The Gartner report, Magic Quadrant for Operational Database Management Systems, by Donald Feinberg, Merv Adrian and Nick Heudecker, was published October 16, 2014.
About EnterpriseDB Corporation
EnterpriseDB (enterprisedb.com) is the leading worldwide provider of Postgres software and services that enable enterprises to reduce their reliance on costly proprietary solutions and slash their database spend. With powerful performance and security enhancements for PostgreSQL, sophisticated management offerings for global deployments and database compatibility, EnterpriseDB software supports both mission and non-mission critical enterprise applications. More than 2,700 enterprises, governments and other organizations worldwide use EnterpriseDB software, support, training and professional services to integrate open source software into their existing data infrastructures.
About Peak Equity Partners
Peak Equity Partners (peakequity.com) is a private equity firm focused on buyouts and recapitalizations of Enterprise Software and Solutions companies. The founding partners, Greg Case and Paul Winn, have nearly 60 years of collective experience as investors and operating executives in this sector. Peak invests in businesses that have large addressable markets, proven technology and demonstrated traction with a meaningful base of customers. The firm leverages and provides access to extensive operating resources to give companies an edge in capturing market segment leadership and achieving goals.