Francisco Partners Buys Avangate

San Francisco-based private equity investor Francisco Partners said Monday that it has acquired Redwood City-based Avantage. Financial terms of the buy were not disclosed. Avangate is a provider of software-as-a-service for managing online sales, subscription billing, and affiliate networks. Avangate said it was advised by Pagemill Partners and Edwards Wildman Palmer LLP in the deal; Francisco was advised by Navidar Group LLC and Shearman & Sterling LLP.