Vista Equity Partners Completes Sale of Allocate Software

• Partnership Delivered Innovation and Rapid Growth for Leading Provider of Human Capital Management Solutions

Vista Equity Partners, a leading global investment firm focused on enterprise software, data and technology-enabled businesses, announced that it has successfully completed the sale of UK-based Allocate Software (“Allocate”), a leading provider of human capital management solutions that help healthcare organizations deliver safe and effective care, to RLDatix, the international leader in governance, risk and compliance (GRC) solutions for healthcare.

“From the beginning, Vista recognized that the Allocate team and culture were critical components for our future success – and established a shared vision for how we could further capture the opportunity for Allocate and our customers”

In the health and care sector, Allocate is enabling the delivery of safe and effective care at optimal cost, by helping organizations to have the right people in the right place at the right time. Allocate serves the largest public and private sector institutions around the world. Each month, 1.2 million staff members utilize Allocate solutions to manage their working lives, over 1.4 million temporary staff shifts are filled and over 8 million hours of nursing care is redeployed for safety-related purposes.

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With people and patients at the core of each company’s missions, together, RLDatix and Allocate will transform how healthcare organizations drive safer, better care for all. Vista made a strategic growth investment in Allocate in 2018 and successfully partnered with Allocate’s executive management team over three years to grow annual bookings by over 50%, increasing recurring revenue by more than 60% while accelerating revenue growth at scale as the company expanded its product offering and entered new geographies.

“From the beginning, Vista recognized that the Allocate team and culture were critical components for our future success – and established a shared vision for how we could further capture the opportunity for Allocate and our customers,” said Nick Wilson, CEO at Allocate. “Vista added resources and expertise to help us scale our organization – creating value by prioritizing investment in our product, infrastructure and growth to establish our position as the industry leader in healthcare human capital management solutions. I am grateful for their partnership since I joined as CEO, and the Allocate team looks forward to this next chapter with RLDatix.”

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During the investment period, Allocate completed four acquisitions, successfully expanding from a healthcare scheduling solution to a broader healthcare workforce management platform. As part of this evolution, product and technology investments allowed for a transition to become entirely SaaS and with enhanced mobile device capability. Allocate grew bookings by accelerating their go-to-market capabilities, entering new geographic markets and offering new product solutions. Alongside this business transformation, Allocate was a key partner for the UK’s response to COVID-19, providing critical software and services needed to staff tens of thousands of healthcare workers across surge hospital capacity and vaccination programs.

“For the last three years, Vista’s investment in Allocate prioritized organic and inorganic product innovation, evolving the company’s healthcare scheduling solution to a broader health workforce management platform, now entirely SaaS-based and mobile-enabled,” said Ryan Atlas, Managing Director at Vista.

Bret Bolin, Managing Director at Vista, added, “As we reflect on our partnership with Nick and the Allocate team, we are proud of what they have accomplished to enable healthcare organizations to deliver safe and effective care. We look forward to seeing Allocate@ continue to thrive, now well-positioned to serve as a critical link in the healthcare GRC lifecycle, offering proactive healthcare prevention to millions around the world.”

Arma Partners and William Blair served as financial advisors and Kirkland & Ellis LLP provided legal counsel to Vista.