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PE FIRM BUYS CERTINIA Featured

Private equity firm, Haveli Investments, has acquired Certinia, known until this year as FinancialForce. Terms were not disclosed but Reuters reported, citing sources, that the deal is valued at nearly $1 billion including debt.

In the last five years, Certinia has had a revolving door for executives with multiple turnovers in the customer officer and chief revenue officer positions with a general restocking of almost all executive positions since Scott Brown became CEO in November 2020. Certinia is being acquired from Advent International and Technology Crossover Ventures. Founding investor, Salesforce, will continue as a shareholder in Certinia, which Reuters reported as around 10 percent. The deal is expected to close next months. Haveli’s partners, including General Atlantic, participated in the deal. Certinia markets CPQ, ERP and FP&A applications but is best known for its PSA products. With the May name change, Certinia introduced Success Cloud and Services CPQ.The announcement says Certinia has 1,400 customers.

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