Quick Base, a Cambridge company that helps people build work place applications with limited computer programming knowledge, is changing hands in a deal reportedly valued at more than $1 billion.
The private firm Vista Equity Partners bought a majority stake in the company, which had been owned by another private equity firm, Welsh Carson Anderson & Stowe. The Wall Street Journal, citing a person familiar with the transaction, said it was worth more than $1 billion.
Welsh Carson Anderson & Stowe will retain a “significant” minority position in the firm, Quick Base announced in a news release.
This is the second major deal involving Quick Base in just a few years. The company was long an arm of Intuit, the maker of TurboTax and other consumer software products, but that company sold Quick Base in 2016 to Welsh Carson Anderson & Stowe.
Quick Base has about 325 employees, and it says its products are being used by 5,400 clients. The company said chief executive Rick Willett will remain at the helm of the company.
Andy Rosen can be reached at email@example.com.