Santa Monica private equity firm Clearlake Capital announced Monday that it had agreed to acquire Syncsort Inc., a Woodcliff Lake, N.J., enterprise software company focused on data processing and analysis. Terms were not disclosed.
“We are excited to partner with Syncsort’s talented management team as we make a significant investment in the company,” Clearlake Managing Partner Behdad Eghbali said in a press release announcing the deal. “The company’s leadership position in both the mainframe and Big Data software segments makes it an excellent buy and build platform to lead consolidation in the industry, which is central to Clearlake’s investment strategy in the software sector.”
In the release, Syncsort Chief Executive Lonne Jaffe said, “We are really looking forward to partnering with Clearlake to continue to grow the company, both organically and through acquisition.”
Clearlake ranked No. 17 on the Business Journal’s most recent list of largest private equity firms in Los Angeles County, with about $1.4 billion under management.
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