DIVERSIS invests in DECISION LENS
Context
Diversis Capital made a platform investment in Decision Lens, the Arlington-based developer of planning and budgeting software for public bodies, announced on 22 July 2024. Chief executive and co-founder John Saaty stayed at the head of the company. The capital was intended to accelerate the development of the platform and the company’s expansion across its markets, which cover the Department of Defense, the intelligence community, federal civilian agencies and state and local governments. Those agencies rely on it for planning and budgeting cycles that run over several years, work still carried out on spreadsheets in much of the public sector. For Diversis, which invests in software and technology companies and had raised more than a billion dollars across its funds since 2013, Decision Lens became a platform in government technology, a sector where modernisation programmes and the pressure to justify spending have driven demand for planning tools. The firm had bought Infotech, a provider of construction bidding software to public agencies, five days earlier. KippsDeSanto & Co acted as financial adviser to Decision Lens, with Cooley as legal counsel.
DECISION LENS, which reported an EBITDA margin of [members only] in 2024, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (14.4x).
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Target
Decision Lens develops planning software used by public bodies to decide how to allocate their budgets. Its platform lets them list the projects and programmes competing for funding, score them against criteria they define, model the effect of different allocations, and schedule the resulting spending over several years. It combines financial data drawn from budget and accounting systems with qualitative judgements on risk, readiness and mission priority, replacing the spreadsheets these processes usually rely on. Its customers are defence agencies, federal civilian departments, intelligence organisations and local authorities, which buy it as a subscription service.
Ent. Value
$20–200M
Equity Value
[members only]
Multiples
EV / Revenue
[members only]
EV / EBITDA
[members only]
EV / EBIT
[members only]
Historical Financials (USD)
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REFERENCES
Valuation range: EV 20m USD - 200m USD
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Press release: view release
Target: decision lens
Acquirer: diversis