Diversis Capital buys Tempo

Diversis is headquartered in Los Angeles but invests in the US, Canada and Europe. It targets companies with at least $10m in revenues and up to $25m in EBITDA.

The vendor is publicly listed Nordic IT services business Origo, which will retain a 45% stake in the business alongside Diversis.

Company
Tempo was founded in 2007 and is headquartered in Reykjavik, Iceland. It develops project management software that tracks time utilisation on the task management application Jira. It has 12,000 customers globally and employs 90 people at its offices in Reykjavik and Montréal, Canada.

People
Diversis Capital – Ron Nayot (managing director); Ryan Tanaka (vice-president).
Origo – Finnur Oddsson (CEO).
Tempo – Agust Einarsson (CEO).

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• Buyouts
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• Iceland