Avetta, with 12 locations globally and 750 employees, has been acquired by EQT Private Equity, for $3 billion.
The announcement on April 2 states that the EQT X fund acquired Avetta from Welsh, Carson, Anderson & Stowe.
Avetta, a provider of supply chain risk management software, has a global network that spans over 130 countries, with 500 hiring clients and 130,000 contractors.
EQT will support Avetta through the development of new products and technologies, adoption of AI automation and global expansion, the companies said.
“Our partnership with EQT propels Avetta into a new era of innovation and growth, reinforcing our dedication to fostering safer, more sustainable workplaces across our global clients and suppliers,” remarked Arshad Matin, CEO of Avetta, in a statement. “This transition is not just a significant milestone for Avetta but for the supply chain risk management (SCRM) industry at large. With the support of EQT, we are poised to enhance our product suite and operational reach further, as demonstrated by ‘Ask Ava,’ our generative AI risk assistant.”