Blackstone, Vista Equity to buy software firm Energy Exemplar -sources

Blackstone and Vista Equity Partners have agreed to acquire Australia’s Energy Exemplar, a provider of energy market software, for more than $1 billion, according to people familiar with the matter.

The deal represents a bet on energy transition, as power utilities, grid operators and renewable energy developers turn to simulation software to fine-tune use of production capacity and maximize efficiencies.

The two buyout firms will each hold a 50% stake, the sources said, requesting anonymity ahead of an official announcement expected later on Tuesday.