Precisely, the global leader in data integrity, today announced it has signed an agreement for Clearlake Capital Group and TA Associates to acquire the Company. The Wall Street Journal reported that the deal is worth $3.5 billion.
Josh Rogers, CEO of Precisely, will continue to lead the Company supported by the existing management team. Upon closing of the transaction, Clearlake and TA Associates will become majority shareholders in Precisely. Centerbridge Partners, the current majority shareholder in Precisely, will retain a minority equity stake. Terms of the transaction were not disclosed.
The history between Clearlake and Precisely dates back to 2015 when Clearlake acquired Syncsort (the predecessor company to Precisely), a specialized provider of data integration products. In 2016, Syncsort acquired Trillium Software to expand its portfolio with leading data quality software, and Clearlake acquired Vision Solutions, a leading provider in data availability software solutions for IBM Power Systems.
In 2017, Clearlake sold Syncsort and Vision Solutions to Centerbridge Partners in a transaction that combined the two companies to increase scale and extend leading data management capabilities, and Clearlake maintained a minority equity stake in the Company. In December 2019, the Company completed its acquisition of the software and data business from Pitney Bowes, adding leading location intelligence and data enrichment capabilities that cemented Precisely as the global leader in Data Integrity.
Josh Rogers, CEO of Precisely
Clearlake and TA Associates have experience partnering with software companies like Precisely that solve complex, critical business challenges and driving accelerated growth through operational best practices and M&A strategies to help them maximize their potential.
Behdad Eghbali, Founder and Managing Partner, and Prashant Mehrotra, Partner, of Clearlake
Precisely has evolved significantly over the last several years by expanding its product offerings and establishing a differentiated sales strategy to provide a data management software suite that directly addresses the complex data quality challenges facing enterprises today and going forward.
