EQT announced that BPEA Fund VIII (“\EQT Private Capital Asia) has agreed to acquire WSO2 from existing shareholders. WSO2 is a leading provider of application development and identity and access management software to enterprise companies globally, with over 80% of revenue coming from blue-chip customers in the Americas and EMEA. Financial details of the transaction have not been disclosed.
WSO2 was founded in Asia and has established a global footprint, enabling thousands of enterprises, including the world’s largest corporations, universities, and governments, to drive their digital transformation rapidly, efficiently, and more securely. WSO2 does this through a comprehensive portfolio of offerings spanning Application Programming Interface (API) Management, API Integration, and Identity and Access Management (“IAM”).
Both the API Management and Integration as well as IAM markets are witnessing significant tailwinds, driven by long-term trends such as the transition to hybrid and multi-cloud workloads, rising API volumes, accelerated adoption of Generative AI, and increasing sophistication of cyberattacks. WSO2 is well-positioned to capitalize on this robust market growth on the back of their strong product suite and entrenched customer relationships.
EQT Private Capital Asia will support WSO2’s next phase of accelerated growth and innovation, drawing on EQT’s deep experience in the software space, global network of industry experts and dedicated digital value-creation team. WSO2 joins EQT’s extensive global portfolio of enterprise software companies that already includes firms such as Billtrust, IFS, SUSE, Storable, and Waystar.
EQT Private Capital Asia was advised by Ropes & Gray and Simpson Thacher & Bartlett. The selling shareholders were advised by JP Morgan and Cooley.
With this transaction, BPEA Private Equity Fund VIII is expected to be 45 - 50 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication). The transaction is expected to close in H2 2024.
Hari Gopalakrishnan, Partner in the EQT Private Capital Asia advisory team
Software is a key focus sector for EQT, and WSO2 is a strong company that has scaled globally with an enterprise customer base spread across the US and Europe. We are excited to partner with WSO2 and believe that the Company is well-positioned to capitalize on long-term trends such as digital transformation and rising GenAI adoption. We are confident of drawing on EQT’s proven software value creation playbook to further accelerate WSO2’s growth momentum.
Sanjiva Weerawarana, CEO and Founder of WSO2
We are thrilled to partner with EQT as we embark on the next phase of WSO2's journey. With EQT's support and expertise, we are well-positioned to accelerate our innovation agenda, expand our global footprint, and continue empowering enterprises to thrive in the digital economy.
