Clearlake Capital Completes Acquisition of Vision SolutionsFinancial terms of transaction not disclosed
This is a Press Release edited by StorageNewsletter.com on 2016.06.22
Clearlake Capital Group, L.P. together with its affiliates has completed the acquisition of Vision Solutions, Inc., a global data protection, HA and cloud migration software provider with a track record of technological innovation on the Power Systems, Windows, and Linux platforms.
Financial terms of the transaction were not disclosed.
Vision Solutions is a provider of software solutions designed to protect data, minimize downtime and maximize resources for the modern data center as enterprises migrate to the cloud and transform their operations. Vision's software offerings facilitate near-zero downtime migration of data, applications and systems using real-time replication technology to reduce time, cost, and risk.
"Our investment represents a substantial commitment to Vision's global customer base and reflects our confidence in the company as a buy and build platform to grow organically and through acquisition," said Behdad Eghbali and Prashant Mehrotra, Clearlake. "With the transaction now complete, Vision can leverage Clearlake's substantial resources to propel its growth strategy and build on its lengthy track record as a leading enterprise software provider."
"We are excited to enter a new chapter with Clearlake," said Nicolaas Vlok, CEO, Vision Solutions. "Data protection software continues to be high priority with growing demand from modern enterprise IT leaders. We look forward to leveraging Clearlake's industry expertise to expand our footprint and serve the needs of our customers."
UBS Investment Bank, Evercore Group LLC, and Foros LLC served as financial advisors to Clearlake. Jefferies LLC acted as exclusive financial advisor to Vision. Antares Capital provided a fully underwritten facility to help finance the transaction, and acted as administrative agent.
Clearlake professionals Behdad Eghbali, Prashant Mehrotra and Paul Huber have joined Nicolaas Vlok on the company's board of directors. In addition, Clearlake operating advisor Keith Bradley and technology industry veteran Lonne Jaffe also joined Vision's board of directors.
Thoma Bravo Selling Vision Solutions to Clearlake Capital Group
Financial terms not disclosed
2016.05.13 | Press Release