Frontier Capital Exits Lanyon, Inc.

Michael Ramich

Growth Equity Firm Helps Establish SaaS Provider as Industry Leader

CHARLOTTE, N.C.--(BUSINESS WIRE)--Frontier Capital is pleased to announce the successful exit of its investment in Lanyon, Inc., the leading provider of SaaS-based software solutions for the hospitality industry.

Headquartered in Dallas, TX, Lanyon provides market-leading software-as-a-service (SaaS) content and spend management solutions for corporations, hotels and travel intermediaries in the global hospitality industry. The company was acquired by Vista Equity Partners.

Frontier provided Lanyon with $10 million of growth equity in November 2009. The investment supported the company’s expansion of sales, marketing and customer support resources, further enhancement of the company’s on-demand solutions, and partial liquidity for founders and shareholders. Lanyon now serves over 725 corporate clients and 340 hotel companies, representing more than 425 hotel brands and 93,000 hotel properties. Lanyon’s customer base includes 70% of the Corporate Travel 100, 50% of the Global 500, and 70% of the world’s hotel brands.

Todd E. Tyler, President and CEO of Lanyon said, “Frontier has been a trusted partner, bringing strategic vision at the board level and operational guidance when needed. Their expertise in SaaS has been a tremendous asset, and we are more successful because of Frontier's involvement with Lanyon.”

“Our work with Lanyon exemplifies what Frontier does best – partner with the outstanding management teams of rapidly growing companies to help further establish them as industry leaders,” added Michael Ramich, Partner of Frontier Capital.

The Lanyon transaction highlights Frontier’s continued success in SaaS, which accounts for almost half of the firm’s investment activity since 1999 and includes realized investments in Anodyne Health, Digital Envoy and Accipiter.

The transaction closed on December 27, 2012. Terms of the transaction were not disclosed. William Blair & Company advised the company on the transaction, and Locke Lord LLP provided legal counsel.

About Frontier

Frontier Capital is a Charlotte-based growth equity firm focused exclusively on technology enabled business services. Founded in 1999, Frontier partners with management teams that can benefit from capital to accelerate growth, fund acquisitions or generate shareholder liquidity. We make minority and majority equity investments in high growth companies and have built an excellent track record of delivering returns to both our investors and management partners. For more information, please visit www.frontiercapital.com.

About Lanyon

Established in 1984 and headquartered in Dallas, Texas, Lanyon is the leading hospitality solutions provider connecting corporations, hotels, serviced apartments and travel intermediaries in the largest online global hospitality marketplace. Lanyon’s solutions are used by over 725 corporations and 425 hospitality brands representing over 93,000 properties. For further information, please visit www.lanyon.com.

About Vista

Vista Equity Partners, a U.S. based private equity firm with offices in San Francisco, Chicago and Austin, currently invests approximately $6.6 billion in capital committed to dynamic, successful technology-based organizations led by world-class management teams with long-term perspective. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies realizing their full potential. Vista’s investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For further information, please visit www.vistaequitypartners.com.

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