Clearlake Capital-backed IT management and security software business Ivanti has picked up new investment from global private equity player TA Associates.
The deal sees Clearlake continue as an institutional shareholder in Ivanti, three years after creating the business through the merger of Combine and Heat Software.
Ivanti aims to automate IT and security operations, with its software utilized by over 24,000 customers.
TA managing director Harry Taylor said, “We believe that this is the best time to invest in Ivanti.
“The company is uniquely positioned at the intersection of the rapidly growing IT service management, unified endpoint management and security end-markets, and has a world-class management team that we’re excited to support.”
A statement from Clearlake founder Behdad Eghnali and partner Prashant Mehrotra added, “We’re proud to have supported Ivanti’s significant growth over the years, most recently driven by the cloud solutions more than doubling organically in the last two years and the rapid scaling of the company’s security and enterprise service management solutions.”
The transaction is expected to close in the second half of 2020.
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