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Search resuls for: "Robert F. Smith"


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Vista Equity Partners Chief Executive Robert F. Smith. Photo: JEENAH MOON/REUTERSVista Equity Partners is close to a $4 billion deal to acquire business-software company EngageSmart , a sizable buyout at a time when many private-equity firms are sitting on the sidelines. Under the terms of the deal, shareholders in the customer engagement and payments software specialist would receive $23 per share in cash, according to people familiar with the situation. The deal could be announced as soon as Monday, barring any last-minute snags.
Persons: Robert F, Smith Organizations: Vista Equity Partners, REUTERS Vista Equity Partners
For his 60th birthday, billionaire Robert F. Smith's wife threw him a James Bond-themed party. Partygoers weren't pleased with the "massive security" and port-a-potties outside, according to the New York Post. "They frisked you when you came out of the bathroom," one guest told New York Post, suggesting it was in an effort to search for hidden cameras and other surveillance technology. Despite the home boasting 15 bathrooms, guests say they were asked to use port-a-potties placed outside during the five-hour long party. It wasn't a great party," the guest told the New York Post.
Insider's Bianca Chan explored this trend with a piece on how cloud providers like AWS, Microsoft Azure, and Google Cloud are reimagining themselves as business consultants. Many of the biggest cloud providers have stood up teams focused on interfacing with the C-suite to advise them on how a move to the cloud can be an opportunity to overhaul things. It's not hard to see how this could end up being big business for the cloud providers. Cloud providers still have a long way to go to be a real threat to consultants, but there is potential there. Click here to read more about how cloud providers are becoming the new-age consultants for Wall Street.
However, on close examination, investing specifically in enterprise software will continue to be one of the best uses of capital anywhere in the financial and technology markets. As we have seen, enterprise software is a disruptive force with the potential to unlock unprecedented productivity and innovation. The pandemic accelerated reliance on enterprise software, as companies turned to technology to connect employees and customers, conduct meetings and facilitate payments. Conversely, as more businesses face commodity and wage inflation, they recognize the value that enterprise software can deliver to help manage the cost of day-to-day workflows while increasing efficiency. Selecting the right investmentsThat said, even in the private markets, generating favorable outcomes in turbulent times requires investors to execute against two factors.
Robert F. Smith, chairman and CEO at Vista Equity Partners, said investing in businesses and managers that emphasize diversity, equity and inclusion remains vital, especially in a bear market. The billionaire investor, who spoke with CNBC's Frank Holland at the Disruptor 50 Summit, said that venture capital and private equity funding should continue to expand to minority-owned businesses. The recent drop in venture capital funding, due to growing recession fears, has disproportionately hit African American, Latinx business owners and founders, he said. They're seeing some outsized reductions in their funding," Smith said. Some venture capital firms that he said are effectively identifying opportunities include the New Voices Fund.
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