Clearlake Capital Group said Monday that it has launched Calero Software from the merger of Movero, PINNACLE and Veramark Technologies. No financial terms were disclosed. Wells Fargo Capital Finance and Stellus Capital Management provided financing to Calero. Headquartered in Rochester, New York, Calero is a provider of communications management solutions.
Rochester, NY, Atlanta, GA, and Santa Monica, CA (Dec. 9, 2013) – Clearlake Capital Group, L.P. today announced the formation of Calero Software, LLC (“Calero” or the “Company”), a leading provider of Communications Lifecycle Management (“CLM”) software and related solutions to enterprises globally. Calero combines the business operations of Veramark Technologies, Inc. and PINNACLE, which together have more than 50 years of telecommunications expense management software experience, with Movero, a mobility management services expert, forming a trusted technology partner to more than 4,000 customers throughout the United States and in more than 40 countries.
The combined company brings deep communications expense management, managed mobility services, and mobile device management products and solutions. All three Companies were recognized by Gartner Inc. as members of the magic quadrant for Telecom Expense Management, presenting a compelling platform for market leadership. Calero offers software, services and mobility management solutions that enable customers to gain greater financial and operational control over communications systems and budgets by leveraging real-time intelligence, leading to improved and sustainable ROI and efficiency. In addition to an integrated platform, Calero will continue to sell and support the existing platforms from its predecessor companies and will unveil an exciting roadmap, including a unified platform, in the future.
Kevin A. Wood, Executive Chairman of Calero and Operating Advisor at Clearlake Capital Group said, “Enterprises need a true partner who will ensure they have the right technology and processes in place to manage all business communications management needs. Calero brings enhanced product offerings, deep expertise and world-class management, and is poised to serve as the global CLM partner of choice. With strong financial backing and operational expertise from Clearlake, we are committed to building Calero via organic growth and acquisition, ultimately providing more dynamic and expanded services to current and future customers.”
“We are excited to sponsor a new, high growth business through the formation of Calero. It is a rare opportunity to bring together three complementary, strong businesses to create a company that immediately ranks among the market leaders,” said Behdad Eghbali and Prashant Mehrotra of Clearlake Capital Group. “Calero will have a unique opportunity to provide enterprises an exciting choice to gain greater efficiency and effectiveness for their communications systems and spend as they take advantage of the BYOD trend. Calero will have the scale, breadth of capabilities and resources to extend its initial leadership position and to offer robust solutions to grow with the needs of its clients.”
The management team of Calero is comprised of senior team members from Movero, PINNACLE and Veramark. The combined Calero organization has an expanded global presence with sales and support personnel located around the world.
Wells Fargo Capital Finance and Stellus Capital Management provided financing to Calero.
Quotes from Leadership of Movero, PINNACLE, and Veramark:
“We all have long shared the same goals in communications management, as we proactively and aggressively stay on top of technology changes and mobility challenges for our customers. With its combined resources and expertise, Calero is a key player and strong leader that can thoroughly support the communications needs of a global workforce.”
— Will Nankivell, Movero Inc.
“Calero is a true strategic partner in delivering comprehensive solutions. This combination ushers in a new dimension of focused operational control and at the same time creates a global CLM powerhouse serving thousands of enterprise customers, many of which are Fortune 500 companies and premiere public institutions.”
— Larry Foster, PINNACLE
“The combination of technology, experience, and investment capital ensures Calero is positioned for dramatic growth. We believe that organizations looking for help with their enterprise communications environment will see us as a new, highly focused partner with the capabilities to deliver a complete, global solution.”
— Tony Mazzullo and Tom McAlees, Veramark Technologies
About Calero Software
Calero is the true alternative to the status quo in communications management, with a commitment to innovation and customer service. As a new leader in Communications Lifecycle Management (CLM), Calero offers a suite of global solutions for fixed and mobile Communications Expense Management (CEM), Managed Mobility Services (MMS), Enterprise Mobility Management (EMM), and IT Services Management. Calero was formed in December 2013 through the merger of Veramark Technologies, PINNACLE and Movero — combining decades of communications management expertise under one name, to challenge convention and change the world of enterprise communications management for the better. Calero has thousands of customers in the United States and more than 40 countries worldwide, including Fortune 1000 corporations, universities and government agencies. Calero’s headquarters are in Rochester, NY, with additional offices in Georgia, Ohio and Tennessee, and the Company is wholly owned by Clearlake Capital Group. For more information, visit www.calero.com.
About Clearlake Capital Group
Clearlake Capital Group, L.P. is a private investment firm focused on special situations and private equity investments such as corporate divestitures, recapitalizations, buyouts, reorganizations, turnarounds and other equity investments. Clearlake seeks to partner with world-class management teams by providing patient, long-term capital and operational expertise to invest in dynamic businesses. Clearlake currently manages approximately $1.4 billion of equity capital, and Clearlake’s founding principals have led over 70 investments totaling more than $3 billion of capital in sectors including software, business services, communication, consumer products/retail, defense/public safety, energy/power, healthcare, industrials, media, and technology. For more information, please visit www.clearlakecapital.com.