Vista Equity Partners, an enterprise software-focussed  investment firm, has sold its majority stake in Zapproved, an e-discovery software provider for corporate legal teams, to Leeds Equity Partners portfolio company Exterro, a provider of Legal Governance, Risk and Compliance software.

Vista Equity Partners (Vista), an enterprise software-focussed  investment firm, has sold its majority stake in Zapproved, an e-discovery software provider for corporate legal teams, to Leeds Equity Partners portfolio company Exterro, a provider of Legal Governance, Risk and Compliance (GRC) software. 

Financial terms of the transaction, which will see Vista retain a minority stake in the business, have not been disclosed.

Since Vista’s May 2017 investment in Zapproved – the very first made by its Endeavor Fund – the firm has experienced significant growth, twice ranking on Deloitte's Technology Fast 500 list.