Clearlake Capital-backed Vision Solutions has sold Double-Take Software to Carbonite. No financial terms were disclosed. Shea & Company served as financial adviser to Clearlake, Vision and Double-Take.
SANTA MONICA, CA AND IRVINE, CA (January 31, 2017) – Vision Solutions, Inc. (“Vision”), a global data protection, high availability and IT automation software provider backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”), announced today that Double-Take Software, Inc. (“Double-Take”) has been acquired by Carbonite, Inc. (NASDAQ:CARB) (“Carbonite”), a leading provider of cloud and hybrid data protection solutions.
“Clearlake is pleased to have contributed to the success of Double-Take, which is an excellent fit with Carbonite. We look forward to the combined company’s continued success,” said Behdad Eghbali, a Co-Founder and Managing Partner at Clearlake. “This is an exciting time at Vision, which will concentrate on providing data protection, high availability, and IT automation software solutions to its global customer base.”
“The Vision Solutions team is focused and excited about the future,” said Nicolaas Vlok, President and CEO of Vision Solutions. “Now, more than ever, Vision Solutions will seamlessly serve Power Systems customers and partners through a combination of innovation, reliable support, and growth execution. Clearlake has been an excellent partner with financial, strategic and operational know-how, and we look forward to our continued partnership as Vision eyes its next phase of growth.
“We wish the Double-Take team well,” Vlok continued. “Carbonite has shown an avid appreciation for the potential of the Double-Take business and technology, including the skills and talents of the team, and we believe Double-Take customers will continue to see great success moving forward.”
Vision’s products focus on helping enterprises grapple with the severe cost of downtime, while addressing the challenges associated with exploding volumes of enterprise data and the concerns around insufficient IT security measures.
“We are excited to enter into this new phase of our partnership with Vision and its management team, as we accelerate execution on our strategy to grow the core Vision platform organically and through acquisition. The market outlook for enterprises requiring data protection software and IT automation tools remains incredibly attractive and we believe Vision’s software solutions are well positioned to address important enterprise IT challenges,” added Prashant Mehrotra, a Partner at Clearlake.
Shea & Company, LLC acted as financial advisor to Clearlake, Vision and Double-Take.
About Vision Solutions
Vision Solutions is a leading provider of high availability, disaster recovery and IT automation software solutions for the modern data center. For more than 25 years, customers and partners have trusted Vision to protect and modernize their environments, whether on-premises or in the cloud.
Visit visionsolutions.com and follow us on social media.
About Clearlake Capital Group
Clearlake Capital Group, L.P. is a private investment firm with a sector-focused approach. The firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational and strategic expertise. The firm’s core target sectors include industrials, energy and power; technology, communications and business services; and consumer products and services. Clearlake currently has over $3.0 billion of assets under management. More information is available at www.clearlakecapital.com.
Carbonite (Nasdaq: CARB) is a leading provider of cloud and hybrid data protection solutions for small and midsized businesses. Together with our partners, we support more than 1.5 million individuals and small businesses around the world who rely on us to ensure their important data is protected, available and useful. To learn more about the cloud solutions voted #1 by PC Magazine readers, as well as our partner program and our award-winning customer support, visit us at carbonite.com.