Clearlake Capital Group has completed the sale of Brightly Software to Siemens AG (Siemens) for a $1.575 billion upfront cash consideration, along with $300 million in cash earn-out payments, giving a total deal value of $1.875 billion.
Brightly is a software-as-a-service (SaaS) provider of cloud-based enterprise asset management and facility operations management. Clearlake acquired Brightly, formerly known as Dude Solutions, in June 2019.
Throughout Clearlake’s ownership, Brightly expanded into new end-markets and geographies, as well as broadened its product offerings, expanding into solutions with a focus on ESG and sustainability management. Today, Brightly has a global customer base with over 12,000 clients across Education, Public Infrastructure, Manufacturing, Healthcare, Commercial Real Estate, and other end-markets, and was recently recognized as a “Leader in Enterprise Asset Management Software” from Verdantix, an award-winning independent research firm.
Read more: Private Equity Wire
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