The global investment firm EQT, with its headquarters in Stockholm, Sweden, has announced that its BPEA Fund VIII (“EQT Private Capital Asia”) has reached an agreement to purchase WSO2, a Mountain View, California-based company that develops applications and provides identity and access management software, from its current shareholders.
The deal’s total value was not made public.
Closing of the acquisition is scheduled for H2 2024.
Dr. Sanjiva Weerawarana founded WSO2 in Asia. The company offers identity and access management software, application development services, and other business solutions to businesses worldwide. Blue-chip clients in the Americas and EMEA account for more than 80% of WSO2’s sales.
The technology makes it possible for thousands of businesses, including the biggest firms, academic institutions, and governments in the world, to advance their digital transformation more quickly, effectively, and safely.
WSO2 will get assistance from EQT Private Capital Asia for its upcoming phase of rapid expansion and innovation.
“With EQT’s support and expertise, we are well-positioned to accelerate our innovation agenda, expand our global footprint, and continue empowering enterprises to thrive in the digital economy.”
Sanjiva Weerawarana
About WSO2
Established in 2005, WSO2 is the biggest independent software provider offering open-source tools for identity and access management (IAM), integration, and API management. With the help of WSO2’s platforms and products, which include Choreo, our next-generation internal development platform, businesses can fully utilize APIs for the safe delivery of digital services and applications. As a result, thousands of businesses across more than 90 countries are able to advance their digital transformation initiatives. Our open-source, API-first methodology releases architects and developers from vendor lock-in, facilitating the quick development of digital products. A pioneer in the field, WSO2 employs over 800 people globally and has offices in the US, Australia, Brazil, Germany, India, Sri Lanka, the United Arab Emirates, the UK, and the United States. Its recurring revenue is close to USD 100 million.
