Episerver, a digital experience and content management software platform, has been acquired by Insight Venture Partners, a New York based global private equity firm. Insight is buying a majority stake in Episerver for $1.16 billion.
With the investment, Episerver seeks to expand further in the U.S. through accelerated product development, go-to-market sales and marketing and branding initiatives.
The acquisition comes more than six months after Episerver unveiled that its 2017 cloud revenue totals jumped 34%, with cloud bookings seeing a 90% year-over-year increase.The company also reported that new subscriptions for its Digital Experience Cloud platform have increased every quarter for the last two years.
Insight is acquiring the stake in Episerver from another private equity firm, Accel-KKR, which created the current entity by combining Ektron and Episerver in 2015. Accel-KKR invested in both companies through separate transactions in 2014.