Genstar Capital LLC of California has officially announced on Wednesday that it has purchased Austin tech company Accruent LLC. The real-estate management software developer has recently bought a software company in Massachusetts in April 2015. The company also has said that their software is used by 5,400 different organizations, including the top 100 retailers, universities, medical institutions and wireless carriers in the country. Genstar, on the other hand, has been purchasing middle-market companies throughout the country with annual revenues reaching up to $50 million to $1 billion per year. Genstar is also the current owner of All Web Leads which is based in Austin.
Read more about this here: Austin tech company scooped up by PE firm