March 19, 2021
Private equity firms covet data and analytics businesses that combine elements of providing data, analytics for that data, and software to incorporate the analysis for their clients, says
Trent Hickman, managing director of
VSS, a New York-based lower-middle-market private equity firm.
“It’s not just having a ton of raw data,” he says. “It’s being able to use that data and easily pull out insights that are actionable. An ideal business would incorporate all three elements, and when you can do that you will become mission-critical for your customers.”
Trent Hickman
PE firms like the fact that the revenues for companies in the sector are frequently mission-critical and subscription-based, Hickman says.
2 Min Read
(Reuters) - Private equity firms Clearlake Capital Group and TA Associates have acquired control of U.S. software company Precisely from another private equity firm in a $3.5 billion deal, a source familiar with the matter told Reuters.
The seller, Centerbridge Partners, will remain a minority investor, the source said late on Tuesday.
It was not immediately known how much Clearlake and TA Associates will each own in Precisely, nor how the deal will be funded.
The Wall Street Journal had reported earlier that TA Associates and Clearlake, which was already a minority investor in Precisely, had agreed to back Precisely, whose legal name is Syncsort Inc, and become its new owners.
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Private equity firms Clearlake Capital Group and TA Associates have acquired control of U.S. software company Precisely from another private equity firm in a $3.5 billion deal, a source familiar with the matter told Reuters.
The seller, Centerbridge Partners, will remain a minority investor, the source said late on Tuesday.
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It was not immediately known how much Clearlake and TA Associates will each own in Precisely, nor how the deal will be funded.
Two private equity firms take control of U S software company Precisely in $3 5 billion deal: source reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.