Vista and Blackstone acquire Ottawa's Assent for $1.3 billion

U.S. investment firms Vista Equity Partners and Blackstone have acquired Ottawa-based compliance software company Assent for approximately $1.3 billion. The deal marks a significant exit for early investors. The acquisition, completed in March, involved a $400 million payout to Assent's venture capital investors. Assent provides cloud software to over 1,000 global industrial companies, helping them meet regulatory standards. The company had $100 million in annual revenue last year. The sale comes amid a challenging tech market. First Ascent Ventures, Assent's sole Canadian institutional backer, saw a lucrative return on its investment.