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EQT nears $3 billion deal for software maker Avetta, sources say
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By Anirban Sen and Milana Vinn
NEW YORK, April 1 (Reuters) - Private equity firm EQT EQTAB.ST is nearing a deal to acquire compliance software maker Avetta for more than $3 billion, including debt, according to people familiar with the matter.
EQT has prevailed in a sale process run by Avetta's owner, private equity firm Welsh Carson Anderson & Stowe, the sources said. If the negotiations conclude successfully, a deal could be reached as early as this week, the sources added.
The sources requested anonymity because the matter is confidential. Avetta, Welsh Carson and EQT did not immediately respond to requests for comment.
Avetta's software helps companies monitor their supply chains. Founded in 2003, the Lehi, Utah-based firm's offerings are used in more than 120 counties, according to its website.
Welson Carson acquired a majority stake in Avetta in 2018 for an undisclosed amount. A year later, Welson Carson merged Avetta with BROWZ, another software vendor focused on supply chain risk management.
(Reporting by Anirban Sen and Milana Vinn in New York
Editing by Shri Navaratnam)
((Anirban.Sen@thomsonreuters.com; Twitter: @asenjourno; Reuters Messaging: Signal/Telegram/Whatsapp - +1-646-705-9409))
