Vista Equity Buys Majority Stake in Software Maker TRG Screen

Vista Equity Partners has acquired a majority stake in TRG Screen, an enterprise software provider for managing corporate spending on subscriptions, according to people familiar with the matter.

The Austin-based private equity firm has committed about $250 million in growth capital in conjunction with an additional institutional investor, the people said, asking not to be identified because the discussions are private. Pamlico Capital, which first backed TRG in 2018, will divest its stake in the company, they added.

Steve Matthews, who led the company for the past nine years as chief executive officer, will be succeeded in that ...