Tech-focused private equity house Vector Capital has agreed a buyout of MarkLogic Corporation, a provider of enterprise data integration and data management solutions.
MarkLogic provides a fully-managed cloud data platform that is able to assemble raw data, index it in real time for semantic search, and provide securely run operational and analytical applications at scale, the company says.
It has more than 2,500 customers including government agencies, financial services firms, insurance companies, manufacturing businesses, media companies and healthcare providers.
Vector Capital managing director Andy Fishman said, “MarkLogic is pioneering innovative approaches to data integration in the large and attractive data management industry.
“We see significant opportunities for growth and are looking forward to supporting the company as it seeks to capitalize on the increasing complexity of big data.
“MarkLogic’s highly advanced data management capabilities, top-notch talent pool, and blue-chip customer base position it for success and continued expansion.”
The deal is expected to close in the fourth quarter of 2020.
Cowen acted as financial advisor to MarkLogic, with Cooley serving as legal counsel. Paul Hastings served as legal counsel to Vector Capital. Additional financing for the deal was provided by Monroe Capital.
Vector Capital closed its fifth fund at $1.4bn in 2017, well above its initial $1.2bn target.
The vehicle marked Vector’s first foray into the capital markets since the global financial crisis, having closed its predecessor fund on $1.2bn in 2007.
Vector Capital V has been investing in public and private technology companies across software, internet and digital media, communications, and industrial technology, targeting deals with enterprise values of $100m to $2bn in North America, Europe, and Israel.
The business offers a suite of solutions for live, virtual, and hybrid events or organiser at conventions, sports arenas, music venues, performing arts festivals, and other attractions.
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