Clearlake Capital completes acquisition of big data and mainframe software leader Syncsort
Clearlake Capital Group, L.P. of Santa Monica, CA (“Clearlake”) announced on November 18 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 such as 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.”
Source: Clearlake Capital Group