Private equity firms Clearlake Capital Group and TA Associates have acquired control of U.S. software company Precisely from another private equity firm in a $3.5 billion deal, a source familiar with the matter told Reuters.

Centerbridge Partners bought enterprise software companies Syncsort and Vision Solutions Inc from Clearlake Capital for $1.26 billion in 2017. Clearlake retained a minority interest in the combined business after that deal had closed.

Precisely’s revenue reached about $600 million last year, and is expected to rise to $650 million to $700 million this year, the Wall Street Journal reported on Tuesday, citing Chief Executive Josh Rogers.

Read more at: Reuters

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