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Clearlake Capital to Acquire Vision Solutions From Thoma Bravo

Clearlake Capital to Acquire Vision Solutions From Thoma Bravo

Clearlake Capital Group LP agreed to acquire Vision Solutions Inc., a disaster recovery and migration software company, from private equity firm Thoma Bravo LLC. Financial terms of the transaction were not disclosed. Headquartered in Irvine, Calif., Vision Solutions is a leading provider of software solutions designed to protect data, minimize downtime and maximize resources for the modern data center as enterprises migrate to the cloud. Vision’s software offerings facilitate near-zero downtime migration of data, applications, and systems using real-time replication technology to significantly reduce time, cost, and risk. Vision serves a diverse base of approximately 12,000 customers ranging from SMBs to the Fortune 500 in over 70 countries worldwide. “We are thrilled to back Vision as a new platform investment and are enthusiastic to accelerate the buy and build strategy as Vision extends deeper into providing end to end software protection solutions for the data center,” said Behdad Eghbali, a managing partner of Clearlake. “We are pleased to partner with Vision’s highly talented management team, led by Nicolaas, to continue to grow and build out both the Vision Power Systems and Double-Take Software businesses.” “We are excited to team with Clearlake, which brings proven software experience and substantial resources that will be instrumental as we aggressively pursue growth and evaluate M&A opportunities,” said Nicolaas Vlok, CEO of Vision. “We’re grateful for the partnership with Thoma Bravo over the years and are excited about this new chapter for our business as we build on our 25 year track record of serving enterprises, channel partners, and managed service providers.” “Due to the complexity of protecting ever-changing infrastructures and exploding volumes of data, enterprise customers require more simplified and cost effective IT management tools to meet their needs. Vision has long been recognized by its customers and partners as a platform agnostic leader in delivering comprehensive and reliable data protection, high availability and cloud migration software solutions for virtually any hybrid IT environment. We look forward to working with Vision’s very experienced management team to continue to build on the company’s world class reputation and its growth trajectory,” added Prashant Mehrotra, partner of Clearlake. We’ve worked closely with the Vision Solutions executive team to identify the operational efficiencies and transformative acquisitions that would establish the company as the premier provider of data protection solutions for modern data centers,” said Scott Crabill, a managing partner at Thoma Bravo. “This approach has led to substantial growth and has delivered value to our investors and Vision Solutions’ customers. We’re happy to have contributed to the company’s success, and look forward to seeing it reach the next stage of growth with its new partner.” UBS Investment Bank, Evercore, and Foros served as financial advisors to Clearlake. Jefferies LLC acted as exclusive financial advisor to Vision and Thoma Bravo. Antares Capital is providing a fully underwritten facility to help finance the transaction, and will be acting as administrative agent. Clearlake professionals Behdad Eghbali, Prashant Mehrotra, and Paul Huber will join the company’s board of directors. The transaction is expected to close during the second quarter of 2016 subject to typical closing conditions and approvals. Clearlake Capital Group is a private investment firm with a sector-focused approach. The firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational and strategic expertise. The firm’s core target sectors include industrials, energy and power; technology, communications and business services; and consumer products and services. Clearlake currently has over $3.5 billion of assets under management. Thoma Bravo is a leading private equity investment firm building on a 30+ year history of providing equity and strategic support to experienced management teams and growing companies. The firm seeks to create value by collaborating with company management to improve business operations, invest in growth initiatives and make accretive acquisitions. Thoma Bravo invests with a particular focus on application and infrastructure software and technology enabled services. The firm currently manages a series of private equity funds representing more than $12 billion of equity commitments.]]>

Zerto Raises $50M Series E From IVP, Len Blavatnik and Existing Investors

Zerto Raises $50M Series E From IVP, Len Blavatnik and Existing Investors

Zerto, a disaster recovery, cloud IT and business continuity solutions provider, has raised $50 million in a Series E funding round led by IVP,  with the participation of billionaire Len Blavatnik, via his Access Industries Israeli units Clal Industries/ClalTech. The round also included participation from all current investors: 83North, Battery Ventures, Harmony Partners, RTP Ventures, U.S. Venture Partners, and Mark Leslie. This round brings Zerto’s total financing to date, to $110 million. The company says it has achieved a fourth consecutive year of over 100% sales growth. “Zerto’s business growth, strong team, execution track record, and proven ability to address a market need by simplifying data center operations motivated IVP to add Zerto to our portfolio,” said Sandy Miller, general partner, IVP. “IVP’s success stories are a veritable ‘who’s who’ in the technology and digital sectors, and we are honored to become part of their rich heritage of marketplace disruptors,” commented Zerto’s co-founder and CEO, Ziv Kedem. Zerto keeps enterprise and cloud IT running 24/7 by providing innovative, simple, reliable and scalable business continuity software solutions. Through the Zerto Cloud Continuity Platform, organizations can seamlessly protect and move virtualized workloads between public, private and hybrid clouds. The company’s flagship product, Zerto Virtual Replication, has become the standard for protection, recovery and migration of applications in cloud and virtualized data centers, and won numerous awards, including Best of Show at VMworld 2011, Best of VMworld Europe 2014, as well as 2011, 2012 and 2013 Product of the Year Awards for its innovative hypervisor-based replication approach. Zerto serves 2,200 customers spanning financial services, healthcare, insurance, legal and education, with a channel network of 250 cloud service providers and 900 resellers. The company was co-founded in 2009 by Ziv and Oded Kedem. Ziv Kedem had previously been a founder of Kashya, which was acquired in 2006 by EMC. Zerto is headquartered in Boston, Mass., and Herzliya, Israel, with additional offices in UK, Japan and India. Institutional Venture Partners (IVP) is one of the premier later-stage venture capital and growth equity firms in the United States, with $5.4 billion of committed capital. Founded in 1980, IVP has invested in over 300 companies and 103 have gone public. IVP is one of the top-performing firms in the industry and has a 34-year IRR of 43.2%. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions, and select public market investments. IVP investments include notable companies such as AppDynamics, Business Insider (Axel Springer), Buddy Media (CRM), Datalogix (ORCL), Domo, Dropbox, Dropcam (GOOG), Fleetmatics (FLTX), GitHub, HomeAway (AWAY), The Honest Company, Kayak (PCLN), Klarna, LegalZoom, LifeLock (LOCK), Marketo (MKTO), MySQL (ORCL), Netflix (NFLX), Omniture (ADBE), OnDeck (ONDK), Prosper, Pure Storage (PSTG), Shazam, Slack, Snapchat, SoFi, SoundCloud, Supercell (SoftBank), Synchronoss (SNCR), Tanium, Twitter (TWTR), Zenefits, and Zynga (ZNGA). The company has offices in Menlo Park and san Francisco. ivp Access Industries is a New York-based privately held, U.S. group with global strategic investments. Founded in 1986 by Len Blavatnik, an American entrepreneur and philanthropist, the group is headquartered in New York. Access invests in industries where it can maximize long-term value by developing regional and global leaders. Its media and technology portfolio includes market leaders such as Warner Music, Alibaba, Facebook, Square, Spotify, Perform Group, Rocket Internet, Zalando, Deezer, Crowdsurge, Sentient Technologies, Lazada and many others. Access Invests in Israeli tech companies primarily through its local entity ClalTech. Its investments in Israeli technology companies over the past year included ironSource, Yotpo and Zooz. ClalTech is supported by a vast network of its parent companies: Access Industries and Clal Industries.]]>