Clearlake Capital Group is to acquire Confluence Technologies (Confluence), a global software and data solutions provider helping the investment management industry solve complex data challenges, from TA Associates (TA).
Upon closing of the transaction, Clearlake will become the majority shareholder while TA will retain a minority equity stake. Mark Evans, CEO of Confluence, will continue to lead the Company supported by the existing management team.
Confluence works with the world’s leading asset managers and service providers to automate business processes across the front, middle and back office. The Company’s investments in the latest technology and expertise allow it to deliver innovative portfolio analytics, regulatory and financial reporting solutions for its clients. Founded in 1991, Confluence has offices in 10 countries supporting approximately 400 clients globally.
Source: Private Equity Wire
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