Clearlake, TA Associates Buy Precisely in $3.5 Billion Deal

Investment firms Clearlake Capital and TA Associates are acquiring data giant Precisely in a deal reportedly worth $3.5 billion.

Josh Rogers, Precisely’s CEO, will continue to lead the company supported by the existing management team. When the transaction closes, Clearlake and TA Associates will become majority shareholders in Precisely.

Centerbridge Partners, the majority shareholder in Precisely, will retain a minority equity stake.

The Clearlake-TA Associates transaction should close in the second quarter pending customary regulatory approvals and closing conditions.

Precisely delivers accurate and contextual data into next-gen platforms like Snowflake, Splunk, Databricks and ServiceNow.

‘Exciting’ Time for Partners

Matt Reaves is Precisely‘s vice president of channels. He said this past year has been “exciting” for Precisely’s channel partners.

“We integrated our acquisition of the software and data business from Pitney Bowes, which expanded our portfolio to make us the global leader in data integrity, providing maximum accuracy, consistency and context in data for better business decisions,” he said. “This acquisition will only accelerate our growth, increase our product innovation and further our M&A activity as we continue to extend our leadership position in data integrity, all to the benefit of our partners and our customers. The acquisition is also strong validation of our data integrity strategy and that has our channel partners excited for the future.”

IDC estimates global spending on digital transformation to reach $2.3 trillion by 2023, And these projects must be built on a foundation of data integrity to succeed, Reaves said.

“This creates an incredible growth opportunity both for Precisely and for our partners as we have a differentiated suite to meet this critical business need,” he said.

Competitive Advantage

Precisely already has a competitive advantage being the global leader in data integrity and offering the industry’s only data integrity suite, Reaves said.

“Partners are an essential part of Precisely’s business and growth, accounting for a healthy percentage of our revenue,” he said. “As a global company with customers in more than 100 countries, our partners help extend our reach to ensure we can support as many customers as we can with trusted data on which to build their digital futures.”

Both Clearlake and TA Associates have a track record of quickly adding value, scale and new capabilities to their investments, Reaves said.

TA Associates’ Harry Taylor

“Hearing from our partners, they’re incredibly excited about the opportunity in the near term and so are we,” he said. “Precisely is a company on the move, so you definitely want to watch this space.”

Harry Taylor is a managing director at TA Associates.

“We believe Precisely is uniquely positioned to meet enterprise customers’ urgent need for secure, trusted, accurate and reliable data both on-premises and in the cloud as they rapidly adopt data integrity software solutions to help support mission-critical business use cases across increasingly disparate data repositories,” he said.