Menu

IoT FEATURE NEWS

Centerbridge Completes $1.26 Billion Acquisition of Syncsort and Vision Solutions

By Ken Briodagh August 17, 2017

In a recent release, Centerbridge Partners, a private investment firm, has announced the completion of the $1.26 billion acquisition of enterprise software providers Syncsort Incorporated and Vision Solutions from affiliates of Clearlake Capital Group. Clearlake, which acquired Syncsort in 2015 and Vision in 2016, will retain a minority ownership stake in the combined company.

Headquartered in Pearl River, NY, the new company will benefit from an increase in global presence, as well as expanded product offerings, afforded by the combination. It now serves more than 6,000 enterprise customers worldwide. Vision CEO, Nicolaas Vlok, will assist with the transition and become a senior advisor with the new company.

“We are pleased to open an exciting new chapter in Syncsort’s rich history, and execute strategies to capitalize on the many growth opportunities provided by the combination of Syncsort’s market-leading Big Iron to Big Data platform and Vision’s leading business resilience software solutions,” said Jared Hendricks, Senior Managing Director, Centerbridge. “Given the innovation and talent that the teams contribute to this combination, the laser focus on high-value use cases and strategic partnerships to drive significant organic growth, and a proven track record executing acquisitions, the future is extremely bright at Syncsort. We are excited about the prospects for the new company and continuing participation from our partners at Clearlake.”

“We are thrilled to officially welcome the talented Vision team, the thousands of customers that rely on Vision’s trusted leadership in IBM i and AIX Power Systems, and an impressive, world-class partner ecosystem to the new Syncsort,” said Josh Rogers, CEO, Syncsort. “This milestone in our business comes at a time when virtually every large enterprise in the world is focused on optimizing existing data infrastructure, and liberating mission-critical data from traditional systems, to make it available in next-generation analytic environments for trusted business insights. Together with Centerbridge and Clearlake, we are creating a Big Iron to Big Data platform that addresses the most critical, complex data management challenges that leading enterprises across all major industries will face for at least the next decade. We are pleased to take this logical next step in our strategy.”

“I am delighted to be supporting Centerbridge and the new Syncsort as a senior advisor to continue to help develop a global Big Iron to Big Data leader,” said Nicolaas Vlok, CEO of Vision Solutions. “There is significant potential to generate more value for our customers, partners, employees and investors as we execute on the growth strategy of the combined business.”

Evercore and Jefferies served as financial advisors to Syncsort and Vision Solutions. Bank of America Merrill Lynch and Credit Suisse served as financial advisors to Centerbridge. Financing for the transaction was provided by Bank of America Merrill Lynch, Credit Suisse, Antares Capital, Golub Capital, Jefferies and SunTrust Robinson Humphrey.


Ken Briodagh is a writer and editor with more than a decade of experience under his belt. He is in love with technology and if he had his druthers would beta test everything from shoe phones to flying cars.

Edited by Ken Briodagh

Editorial Director

SHARE THIS ARTICLE
Related Articles

Smart Cities for All: City Leaders in Brazil Discuss Accessibility

By: Ken Briodagh    9/25/2017

Rio de Janeiro has invited G3ict and World Enabled to assist with the city's efforts to ensure that persons with disabilities and older persons can be…

Read More

The Future of the IoT: From Smart Cities to Cyborgs

By: Special Guest    9/25/2017

The IoT is the largest technological expansion in the history of humankind and will lead to the creation of cities controlled by artificial intelligen…

Read More

CIS Controls Says Its Best Practices Could Prevent Equifax-style Breach

By: Ken Briodagh    9/25/2017

According to CIS, attacks such as WannaCry and Equifax could have been prevented.

Read More

Pros and Cons of IoT: Why Some Businesses Are Slow to Adopt

By: Special Guest    9/22/2017

Why won't business leaders recognize the boons of IoT and bring IoT devices into the workplace? The answer seems to be: Speed.

Read More

IoT Evolution Health: Areta Health in South Africa to Use Medsphere Healthcare Solutions

By: Ken Briodagh    9/22/2017

Network of Areta Specialist Day Hospitals supported by remote clinics and in-home monitoring brings Medsphere's EHR and services to the African contin…

Read More