Clearlake Capital-backed Precisely, which provides software for data integrity, agreed to add-on PlaceIQ, which provides data and technology powering marketing and business decisions with location-based consumer insights. PlaceIQ is Precisely’s fifth add-on in less than a year, since Clearlake and TA Associates acquired a majority stake from Centerbridge Partners.
Precisely, a global leader in data integrity software, today announced it has signed a definitive agreement to acquire PlaceIQ, a leading data and technology provider that powers marketing and business decisions with location-based consumer insights. Financial terms were not disclosed.
The acquisition of New York-based PlaceIQ expands the Precisely data integrity portfolio to include mobile location data while also providing customers with broader access to enterprise-wide data management solutions, including data governance, data enrichment and additional location data attributes.
“Enterprises today are looking to make better decisions through data they can trust. Precisely offers a unique combination of software and data solutions to help companies achieve data integrity and improve decision making,” said Josh Rogers, CEO of Precisely. “The addition of PlaceIQ’s location data to our portfolio deepens that value proposition by providing our customers with market-leading data on consumer behavior. We look forward to accelerating PlaceIQ’s decade of innovation, offering new ways for enterprises to improve the accuracy, consistency and context of their data.”
The combination of PlaceIQ’s behavioral location intelligence and Precisely’s global geo-location products will create an industry leading enterprise solution to better connect real-world measurement to business decisions. With this acquisition, Precisely furthers its strategy to develop new products that improve enterprise operations, deliver better insights through data, and enhance customers’ end-user experience.
“This is a tremendous opportunity for PlaceIQ to further connect location intelligence to the marketing ecosystem through our ubiquitous industry partnerships and proven integrations,” said Duncan McCall, CEO and co-founder of PlaceIQ. “Precisely’s demographic and mapping data, coupled with its passion for tackling the most difficult data integrity problems, is a great fit for PlaceIQ and our clients. We believe our industry-leading offerings will be taken to the next level with Precisely’s investment and enterprise guidance.”
“PlaceIQ represents Precisely’s fifth add-on acquisition in less than a year of Clearlake and TA closing the Precisely transaction. This acquisition cements Precisely’s market leadership as a large-scale industry consolidator in the broader data integrity software ecosystem,” said Behdad Eghbali, Founder and Managing Partner, and Prashant Mehrotra, Partner, of Clearlake. “We are thrilled to support Josh and team in utilizing our O.P.S.® framework to accelerate growth through this strategic acquisition that both expands Precisely’s total addressable market and enables further cross-sell opportunity.”
“Access to secure, accurate and reliable data is essential for businesses to thrive,” said Harry Taylor, Managing Director, and Michael Libert, Director, at TA. “With the acquisition of PlaceIQ, Precisely broadens its unique data offerings, leveraging behavioral location intelligence to enable its customers to make more strategic business decisions. We look forward to our continued partnership with Precisely as it completes this acquisition and explores opportunities for further growth and product innovation.”
Precisely is the global leader in data integrity, providing accuracy and consistency in data for 12,000 customers in more than 100 countries, including 97 of the Fortune 100. Precisely’s data integration, data quality, data governance, location intelligence, and data enrichment products power better business decisions to create better outcomes. Learn more at www.precisely.com.
PlaceIQ is a leading data and technology provider that powers critical business and marketing decisions with location data, analytics, and insights. An early industry pioneer, PlaceIQ has become the standard for fueling better outcomes for marketers, analysts, and publishers through powerful, location-based consumer insights, real-world measurement, and attribution. With PlaceIQ, companies can uncover opportunities within the consumer journey by learning about and connecting with location-based audiences, measuring real-world ROI, and applying insights that drive intelligent marketing and successful business outcomes. For more information, visit www.placeiq.com.
Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are technology, industrials, and consumer. Clearlake currently has over $60 billion of assets under management and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas. More information is available at www.clearlake.com and on Twitter @ClearlakeCap.
About TA Associates
TA is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – the firm invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 550 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $47.5 billion in capital since its founding in 1968. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA can be found at www.ta.com.