What did Vista Equity Partners pay for Model N?

Vista Equity Partners acquired Model N for $1.25B in 2024 (24.5x EBITDA), equivalent to 4.70x revenue. Target revenue was approximately $264.0M. Target EBITDA was approximately $51.0M.

What does Model N do?

Model N is a healthtech business.

What multiple did Vista Equity Partners pay for Model N?

24.5x EBITDA and 4.70x revenue, based on disclosed deal value of $1.25B and disclosed financials.

M&A TRANSACTION · 2024

Model N acquired by Vista Equity Partners

$1.25B· 24.5x EBITDA· 4.70x revenue

Target

Model N

Acquirer

Vista Equity Partners

Private Equity buyer

Disclosed financials at time of acquisition

Revenue

$264.0M

EBITDA

$51.0M

Deal Value

$1.25B

EV/EBITDA

24.5x

Context

This $1.25B acquisition of Model N by Vista Equity Partners sits in the healthtech sub-vertical. The 24.5x EBITDA multiple paid in 2024 can be compared against the population median for healthtech transactions of similar size on our Healthtech valuation hub. Vista Equity Partners is acquiring as a private equity buyer; see how PE acquirers typically price healthtech businesses on our Healthtech PE buyer-pool page.

Source

Data sourced from SEC Fairness Opinion — primary source. All figures reflect disclosed values at the time of the acquisition; no estimated or imputed data. Methodology

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Citation: ExitValue.ai. (2024). Model N acquired by Vista Equity Partners. https://exitvalue.ai/deals/model-n-acquired-by-vista-equity-partners-fairness-opi