(Bloomberg) -- Health-care technology company RLDatix agreed to buy Allocate Software, the maker of cloud-based medical platforms owned by private equity firms Vista Equity Partners and Hg.
The acquisition is pending final approvals expected to be completed in the coming weeks, RLDatix said in a statement on its website Monday, which confirmed an earlier Bloomberg News report. It didn't provide financial terms. The deal is valued at more than 970 million pounds ($1.3 billion), people familiar with the matter said.
The purchase adds to a string of acquisitions by RLDatix, which is owned by Five Arrows, the private equity arm of Rothschild & Co., and TA Associates. With more than 3,500 customers in 19 countries, it makes software used to report adverse health-care events, reduce infections and ensure patient safety, according to its website.
RLDatix's eight acquisitions in the past three years include contract-management software maker Ecteon in February and Verge Health, a maker of credentialing software, in October, according to data compiled by Bloomberg and statements at the time.
Vista bought U.K.-based Allocate Software from Hg in 2018 for an undisclosed sum, according to a statement at the time. Vista partnered with Hg in a 50/50 recapitalization that year, the people familiar with the matter said.
In August 2018, Nick Wilson took over as chief executive officer of Allocate Software. Since then, the company has expanded beyond health-care scheduling software to become a workforce management platform.
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