American company bought a Belarusian IT firm

The Belarusian IT company Targetprocess has been submitted to the American company Apptio, tut.by reports. The amount of the deal was not disclosed. Targetprocess develops solutions for agile project management.

Apptio is a portfolio company of Vista Equity Partners, one of the largest investment firms in the United States. The company has offices around the world, including in Europe, Australia, Japan and India.

The Belarusian company attracted the attention of large American investors thanks to its entry into the Gartner Magic Quadrant. Based on the results of 2020, the company was recognized as a leader in corporate agile planning tools.

Zubr Capital and the European Bank for Reconstruction and Development (EBRD), which owned a minority stake in the company, announced their exit.

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Photo: science-time.com