Francisco Partners, a technology-focused private equity funds, said yesterday that it will acquire the WebTrends business unit from NetIQ Corp. WebTrends is a Portland, OR-based provider of Web analytics.
San Jose, CA-based NetIQ's board of directors has approved the agreement, which is expected to close before June 30. The deal is subject to regulatory approvals and customary closing conditions. aThe transaction is being undertaken with the support of WebTrends' management team, members of which will be investing in the new business together with Menlo Park, CA-based Francisco Partners.
Greg Drew, currently general manager of WebTrends, will continue to lead the business and will assume the role of president and CEO of the new standalone WebTrends business.
