Vesta, a fraud protection and electronics payment company in Lake Oswego, said this week that it has sold a majority stake in the business for $125 million.
The buyer is Goldfinch Partners, a Seattle private equity founded in 2018. Previously, Vesta’s ownership was split among a number of shareholders – none of whom owned more than 10% of the company.
Vesta employs 337 altogether, including 139 in Oregon. Launched in 1995, the company says its technology is involved in the processing or security for billions of dollars in online transactions each year.
This week’s deal is among the largest sums paid for an Oregon technology company in recent months – and comes despite the coronavirus pandemic that has depressed investment activity.
“The fact that we were able to complete this funding in the current environment is confirmation of the market need for our solution and a tremendous nod to our talented team,” Vesta CEO Ron Hynes said in this week’s announcement. He did not disclose precise terms of the transaction.
— Mike Rogoway | email@example.com | twitter: @rogoway | 503-294-7699
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