Clearlake Capital Makes Tech BuyTuesday, September 11, 2012
Santa Monica investment firm Clearlake Capital Group L.P. on Tuesday said it acquired NetMotion Wireless Inc., a Seattle provider of mobile network technology.
Terms of the deal were not disclosed. NetMotion’s Mobility XE product suite is marketed as a way to increase data security and mobile worker productivity with more secure and reliable connections to corporate networks.
As part of the transaction, Clearlake founder Behdad Eghbali and Vice President Prashant Mehrotra have joined NetMotion’s board of directors.
“We look forward to working closely with management to bring NetMotion’s products to many untapped vertical markets and deliver next-generation solutions to continue serving the company’s loyal customer base,” said Eghbali in a statement.
Clearlake Capital specializes in such private equity deals as corporate divestitures, recapitalizations, buyouts, restructurings and turnarounds. Last year it acquired 3-D film technology company 3ality Digital in Burbank.