Vista's Mediaocean buys Flashtalking, Sponsors amp up ESG, MSP bets

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The Wire

July 13, 2021

Vista’s Mediaocean buys adtech business for $500m-plus, Examining the allure of ESG and MSP assets

Happy Tuesday folks!

Today we've got a tech scoop and new developments on two types of businesses seeing a ton of attention from PE firms - managed service providers and sustainability-focused companies. To begin with, Vista Equity-backed Mediaocean has agreed to acquire adtech provider Flashtalking from TA Associates for more than $500 million, sources familiar with the deal told PE Hub. Flashtalking, based in London, is an international provider of a software platform for the creation and delivery of online advertising campaigns. Read Milana Vinn's report on PE Hub.
The big ESG reckoning: Recently, the Impact platform launched byApollo Global Management announced its first investment in Italy's Reno De Medici, a 100 percent recycled cardboard manufacturer. But Apollo is far from being the only one doubling up its efforts in the ESG space. Blackstone recently bought Chicago-based ESG software provider Sphera for $1.4 billion from Genstar Capital, and in the lower-middle market, L2 Capital Partners last week announced its investment in Ecotone. Also, the demand for MSP assets continues... Today,OceanSound Partners-backed Netrix announced its second acquisition of a managed IT services business unit. It bought the MSP unit of Strattam Capital-owned Contegix for just over $50 million, a source told me. Late last year, Netrix also acquired the MSP business unit of Prosum, which was less than $10 million in enterprise value, according to the same sources.

Read the full wire commentary on PE Hub...

That’s it for me! Hit me up with tips n’ gossip, feedback or comments at karishma.v@peimedia.com or find me on LinkedIn.

DEADLINE APPROACHING: Calling all next-gen firms and their investors! We need your participation in our fifth-annual survey of emerging managers and survey of emerging manager investors. As thanks, we'll make sure you get a complimentary copy of the "Emerging Manager Report 2021," based on these surveys (once it's published this fall). All responses are kept confidential. The survey deadline is July 16.

Also of note (may require subscriptions)

More impact investments: PE firm North Sky Capital has brought on a veteran of the energy transition space in Ying Lucy Fan, who is joining the US-based firm as vice-president for sustainable infrastructure. Read more on affiliate publication, New Private Markets.