Vista Equity Partners LLC signed a definitive conditional agreement to acquire unknown stake in Pipedrive, Inc. from TMT Investments PLC (AIM:TMT) and Deutsche Telekom Capital Partners Management GmbH for $40.9 million on November 12, 2020. The consideration will be paid in cash. As of December 21, 2020, TMT confirms receipt of the initial consideration of $40.9 million, with a further small deferred consideration payable, which TMT expects will amount to less than 1% of the initial consideration, subject to certain adjustments, over the next few months. As part of the transaction, Pipedrive received majority investment from Vista Equity Partners LLC while TMT agreed to dispose its entire holding in Pipedrive to Vista. Pipedrive's existing investors Bessemer Venture Partners, Insight Partners, Atomico, DTCP, and Rembrandt Venture Partners, will continue as minority investors in the company and will partner with Vista and the Pipedrive team to accelerate the company's growth trajectory. The transaction is subject to various conditions being satisfied, which includes, inter alia, certain competition approvals, with the parties anticipating completion of the transaction and receipt of funds by TMT in connection with the Disposal before the end of 2020. Richard Tulloch and James Bellman of Strand Hanson Limited served as nominated financial advisers to TMT Investments. Wells Fargo Securities, LLC acted as financial advisor and Marc D. Browning; Rodin M. Hai-Jew; Dilen Kumar; Eva Mak; Lauren Iwasaki; Alexandria Ku; George Zhang; David C. Kung; Heidi Yuen; Sonali S. Jindal; Douglas F. Tedeschi; John Lynn, P.C.; Joanna Thomson; Jenny Wilson; Sheila J. Salehpour; Robert Zitko; Emily Morrison; Sydney Jones; Wes Benter; Rohit Nafday; Faye Whiston; Anthony Ji; Roberto S. Miceli; Eric Zhi; Alexandra N. Farmer; Donna H. Ni; Sarah Jordan; Mark Gardner; Marin Boney; Michael D. Thorpe; Sion Davies; Samantha Jones; Joel Gory; Evan Turnage; Mario Mancuso; Carrie R. Schroll; Matthew Solum; Gianni Mascioli; Anna Geml; and Jessica H. Sicsu of Kirkland & Ellis LLP acted as legal advisor to Vista Equity. David Concannon, Luke Bergstrom, Grace Lee, Austin Ozawa, Sarah Gagan, Jana Dammann de Chapto, Patrick English, Fiona Maclean, Joshua Holian, Blair Connelly and Robert Blamires of Latham & Watkins LLP acted as legal advisor to Pipedrive. Matthew Guercio of Willkie represented Insight Partners and other institutional holders in the deal. Vista Equity Partners LLC completed the acquisition of unknown stake in Pipedrive, Inc. from TMT Investments PLC (AIM:TMT) and Deutsche Telekom Capital Partners Management GmbH on December 17, 2020.