Vista Equity Partners to privatize revenue optimization platform Model N in $1.25 billion transaction.

Model N, a platform used by companies such as Johnson & Johnson, AstraZeneca, and AMD to automate decisions related to pricing, incentives, and compliance, is going private in a $1.25 billion deal with private equity firm Vista Equity Partners. The acquisition underscores how PE firms continue to scoop up tech companies that have struggled to perform well in public markets in the last couple of years.

Vista Equity is doling out $30 per share in the all-cash transaction, representing a 12% premium on Friday’s closing price, and 16% on its 30-day average.

This is Vista Equity’s fifth such acquisition in the past 18 months, following Avalara ($8.4 billion); KnowBe4 ($4.6 billion); Duck Creek Technologies ($2.6 billion); and EngageSmart ($4 billion).