Clearlake Sells Syncsort, Vision Solutions To Centerbridge

Santa Monica-based private equity investor Clearlake Capital Group said on Thursday that it has agreed to merge Syncsoft Incorporated and Vision Solutions, two enterprise software companies that it already owns, and sell the resultant company to Centerbridge Partners. Clearlake said the deal is worth $1.26 billion. Clearlake acquired Syncsoft in 2015, and Vision Solutions in 2016. The new company will be headquartered in Pearl River, New York, and will operate under the Syncsort name. Clearlake said it will "retain a meaningful ownership stake" in the new company.