NEW YORK & GLASTONBURY, Conn.--(BUSINESS WIRE)--Veritas Capital (“Veritas”), a leading private investment firm, today announced that an affiliate of Veritas has signed a definitive agreement to acquire Finalsite, a global leader in school website and digital communications tools, from Bridge Growth Partners. Financial terms of the transaction were not disclosed.
Headquartered in Glastonbury, CT and founded in 1998, Finalsite provides software as a service (SaaS) solutions to over 8,000 schools and universities across 115 different countries. Finalsite’s software platform enables schools, districts and other institutions to deploy a comprehensive “digital campus,” providing a central hub with innovative tools and data connections to facilitate fast and high quality digital communications as well as active engagement with their communities of parents, teachers, students and administrators. With expectations for enhanced digital connectivity higher than ever, Finalsite continues to support its clients’ evolving needs for online connectivity through parent communications, virtual tours, live streamed events, online enrollment solutions, virtual graduations and fundraising campaigns.
“We are thrilled to welcome Veritas as an investor as we execute our proven strategy and enter this exciting new chapter of growth,” said Jon Moser, Finalsite Founder and CEO. “Over the past few years, we’ve significantly grown Finalsite into a leading digital platform for K-12 schools with Bridge Growth’s guidance and active support, and we’re confident that Veritas’ resources and significant industry expertise will fuel our continued growth in the years to come. Together, we will deliver even greater value to schools across the world and the families they serve by transforming the ways they engage.”
“Finalsite is a differentiated leader in K-12 marketing and communications, delivering innovative design and software solutions that meet the market’s evolving needs,” said Ramzi Musallam, CEO and Managing Partner of Veritas Capital. “We look forward to scaling the platform even further through our focus, resources, and extensive experience in education technology. We’re eager to partner with Finalsite and Bridge Growth as we accelerate the company’s growth profile and mission-critical education tools.”
“Since we first partnered with Finalsite over five years ago, the company has meaningfully expanded its client base and developed one of the most comprehensive digital marketing and communications offerings for schools through organic and inorganic growth initiatives,” said Alok Singh, CEO of Bridge Growth Partners. “Our objective is to build more strategically relevant and valuable businesses, and today’s news represents an important milestone in our journey with Finalsite. We are excited about Finalsite’s future trajectory alongside a firm of Veritas’ caliber.”
The transaction is expected to close in the fourth quarter of 2021.
Finalsite is the preferred website, communications, enrollment and marketing platform of 8,000+ schools and universities in 115 countries around the world. Based in Glastonbury, CT with offices in Austin, TX, Columbus, OH, London, and Hong Kong, Finalsite's products and services transform how schools engage with community members, recruit students and staff, and fundraise; while managing the complex requirements around data privacy, accessibility, hosting and security. For more information, visit www.finalsite.com.
About Veritas Capital
Veritas is a longstanding technology investor with a focus on companies operating at the intersection of technology and government. The firm invests in companies that provide critical products, software, and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means.
Leveraging technology to make a positive impact across vitally important areas, such as healthcare, education, and national security, is core to Veritas. We are proud stewards of national assets, improving the quality of healthcare while reducing cost, advancing our educational system, and protecting our nation and allies. For more information, visit www.veritascapital.com.
About Bridge Growth Partners
Bridge Growth Partners, LLC is a private equity firm that targets investments in the technology and technology-enabled services sectors. Bridge Growth Partners brings together in one team premier investment, financial, strategic, and operating business building talent. The firm is committed to relationship-based investing, with a focus on supporting growth, operational excellence and world-class governance at its portfolio companies to create value for investors. For more information about Bridge Growth Partners, please visit http://www.bridgegrowthpartners.com