Centerbridge Partners, L.P., a private investment firm, has completed the $1.26 billion acquisition of enterprise software providers Syncsort Incorporated and Vision Solutions, Inc. from affiliates of Clearlake Capital Group, L.P.
As previously announced, Clearlake, which acquired Syncsort in 2015 and Vision in 2016, is retaining a minority ownership stake in the combined company.
Headquartered in Pearl River, NY, the new company benefits from a dramatic increase in global presence, as well as significantly expanded product offerings, afforded by the combination. It now serves more than 6,000 enterprise customers worldwide. Vision CEO, Nicolaas Vlok, will assist with the transition and become a senior advisor with the new company.
“We are pleased to open an exciting new chapter in Syncsort’s rich history, and execute strategies to capitalize on the many growth opportunities provided by the combination of Syncsort’s market-leading Big Iron to Big Data platform and Vision’s leading business resilience software solutions,” said Jared Hendricks, a Senior Managing Director at Centerbridge.
Syncsort is a recognized global leader in Big Iron to Big Data solutions. Syncsort’s proven software delivers all critical enterprise data assets with the highest integrity for Big Data analytics, on premise or in the cloud. With its acquisition of Trillium Software in late 2016, the company is also now home to market-leading data quality software and expertise.
The Vision portfolio provides leading business resilience solutions for IBM i and AIX Power Systems platforms. Its software solutions are designed to protect data, minimize downtime and maximize resources for the modern data center.
The recent acquisition of Enforcive Systems, an IT security and compliance management solutions provider, drives a unique convergence of high availability, disaster recovery and security capabilities to protect an organization’s data.
With the addition of the Vision portfolio, Syncsort is well positioned to capitalize on significant investments being made across the industry in tuning Power Systems to serve next-generation machine learning use cases, on premise or in the cloud.
For more information about this acquisition, visit www.syncsort.com