Clearlake Capital Group LP said Wednesday it closed its buy of Syncsort Inc. Financial terms of the deal, announced in October, weren’t announced. Golub Capital provided financing. Woodcliff, New Jersey-based is an enterprise software provider. Syncort’s investors had included Insight Venture Partners, Bessemer Venture Partners, Georgian Partners, and other shareholders. Evercore served as financial advisor to Clearlake. BofA Merrill Lynch and Pillar Capital Advisors acted as financial advisors to Syncsort.
SANTA MONICA, CA (November 18, 2015) – Clearlake Capital Group, L.P. (“Clearlake”) today announced that it has completed the acquisition of Syncsort Incorporated (the “Company”), a global enterprise software provider with a proven track record of successful acquisitions and technology innovation across the world’s most industrial-scale data platforms. Financial terms of the transaction were not disclosed.
Headquartered in Woodcliff Lake, NJ, Syncsort provides powerful, secure, enterprise-grade software that spans “Big Iron to Big Data,” including fast-growing analytical platforms such as Apache Hadoop, Splunk, Apache Spark, and the cloud, as well as more mature platforms suchas the IBM z Systems mainframe.
“Our organic product investments and related software acquisitions over the last couple of years have been singularly focused on one of the most important secular growth opportunities in the technology industry today: demand for software that liberates data and existing budgets for use in advanced machine learning and business intelligence systems,” said Lonne Jaffe, CEO of Syncsort. “This significant investment from Clearlake will allow Syncsort to double-down on our successful strategy and to deliver meaningful value for customers.”
With the transaction complete, Syncsort can now leverage Clearlake’s substantial resources to propel its aggressive growth strategy and build on several important technology alliances Syncsort recently forged with industry leaders such as Splunk, Amazon Web Services, Cloudera, Hortonworks, MapR, Dell and Tableau.
“We are excited to complete our investment in Syncsort and support the company to lead consolidation in the industry,” said Behdad Eghbali and Prashant Mehrotra of Clearlake. “Lonne and the management team have built an industry leading software company that addresses customer needs for data integration and transformation across various analytical platforms. We look forward to working together to accelerate growth organically and through strategic acquisitions.”
Evercore served as financial advisor to Clearlake. BofA Merrill Lynch and Pillar Capital Advisors acted as financial advisors to Syncsort. The Company’s previous investors included Insight Venture Partners, Bessemer Venture Partners, Georgian Partners, and other shareholders. Golub Capital provided a fully underwritten GOLD facility to help finance the transaction, and acted as administrative agent and sole bookrunner. Clearlake executives including Behdad Eghbali, Prashant Mehrotra, and Paul Huber have joined Syncsort’s Board of Directors.
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 technology, communications and business services; industrials, energy and power; and consumer products and services. Clearlake currently has over $3.2 billion of assets under management. More information is available at www.clearlakecapital.com
Syncsort provides enterprise software that allows organizations to collect, integrate, sort and distribute more data in less time, with fewer resources and lower costs. Thousands of customers in more than 85 countries, including 87 of the Fortune 100 companies, use the company’s fast and secure software to optimize and offload data processing workloads. Syncsort software provides specialized solutions spanning “Big Iron to Big Data,” including next generation analytical platforms such as Hadoop, cloud, and Splunk. For more than 40 years customers have turned to Syncsort’s software and expertise to dramatically improve performance of their data processing environments, while reducing hardware and labor costs. Experience Syncsort atwww.syncsort.com