Palo Alto – July 7, 2017 – Cooley is advising private equity firm Clearlake Capital on the combination and simultaneous sale of enterprise software providers Syncsort and Vision Solutions to Centerbridge Partners for $1.26 billion. Under the terms of the agreement, Clearlake will continue to hold a meaningful ownership stake in the combined company. Following the transaction, Syncsort and Vision Solutions, as a combined entity, will be led by current Syncsort CEO Josh Rogers. Vision CEO Nicolaas Vlok is anticipated to transition to an advisor to the company. The transaction is expected to close in Q3.
“With Clearlake’s operating insights, software sector expertise and strategic advice, we were able to successfully pursue our strategy of creating a unique, scaled infrastructure software consolidation platform,” said Rogers in a news release. “This is a transformative moment for our business, and we could not be more excited to welcome the talented team from Vision and their mission-critical solutions to the Syncsort family.”
Cooley has a longstanding relationship with Clearlake, advising the firm on various transactions and portfolio matters since 2011, including its acquisition of Syncsort in 2015 and Vision in 2016. Cooley has served as outside general counsel to Syncsort and Vision, and advised Syncsort on its acquisitions of Cogito and Trillium Software, as well as Vision on its sale of Double-Take Software and acquisition of Enforcive.
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