Clearlake & TA Associates-Backed Precisely to Acquire SaaS-Provider CEDAR CX
Acquisition enhances award-winning customer experience portfolio with a fully integrated cloud Customer Communication Management (CCM) platform for key industry applications
Precisely, the global leader in data integrity software, backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) and TA Associates, today announced it has signed a definitive agreement to acquire Atlanta-based Software as a Service (SaaS) provider CEDAR CX Technologies. Precisely adds CEDAR CX’s robust cloud platform, expertise, and scale within hosted managed services to its offerings spanning industry sectors including wealth management, lending, and insurance.
The acquisition strengthens the opportunity for Precisely customers to share capabilities across CEDAR CX and the EngageOne portfolio, including unified digital customer experiences, document composition, archiving, billing, and payments. Customers will benefit from orchestration, preference management, enhanced communication governance, robust self-service capabilities and deep expertise in data intensive, heavily regulated businesses.
“We enable our clients to easily create relevant, seamless interactive engagements with their customers in a time when it’s more important than ever,” said Greg Van den Heuvel, Executive Vice President and General Manager, EngageOne at Precisely. “By combining our solutions, clients will be able to better leverage data to deepen their own customer relationships. We’re excited by the opportunity to combine forces and create a best-of-breed solution that’s unmatched in the market.”
The acquisition comes on the heels of Precisely winning the Unified Communications Product of the Year by Computing Magazine’s Cloud Excellence Awards – further bolstering its leadership position.
“We’ve built a solution tailored to customer needs – from digital CX to real-time and rapid messaging, providing our clients with strong CCM and Hosted Managed Services capabilities. Joining Precisely, and its industry-leading portfolio of data integrity solutions, will allow us to scale our existing services to even more customers and industries,” said John DiMarco, Chief Executive Officer, CEDAR CX.
To learn more about data integrity solutions from Precisely, go to www.precisely.com.
About Precisely
Precisely is the global leader in data integrity, providing accuracy and consistency in data for 12,000 customers in more than 100 countries, including 97 of the Fortune 100. Precisely’s data integration, data quality, data governance, location intelligence, and data enrichment products power better business decisions to create better outcomes. Learn more at www.precisely.com.
About CEDAR CX Technologies
CEDAR CX Technologies is a leading provider of an innovative generation of powerful Private-Cloud-Based Managed Services solutions for Customer Communications Management (CCM), and Customer Experience Management (CXM), reshaping the way companies do business with their customers and partners.
About Clearlake
Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are technology, industrials and consumer. Clearlake currently has over $55 billion of assets under management and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas. More information is available at www.clearlake.com and on Twitter @ClearlakeCap.
About TA Associates
TA is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – the firm invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 550 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $47.5 billion in capital since its founding in 1968. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA can be found at www.ta.com.