Menu

IoT FEATURE NEWS

Centerbridge Completes $1.26 Billion Acquisition of Syncsort and Vision Solutions

By

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

Cloud Services Fueling Formula 1 Results

By: Maurice Nagle    5/6/2021

Legacy solutions get lapped in a competitive landscape, and Zadara wants to ensure all partners can keep pace with the lead pack. Just as the cloud ca…

Read More

How Two Companies Partnered to Turn Up 70 Smart Cities in India

By: Juhi Fadia    5/3/2021

India is the global leader in IoT with over 40% market share. According to several analyst firms' predictions, the 2020-2025 CAGR will average 55%. Th…

Read More

Innovations in "Industrial Strength" Infrastructure: Preparing for the Potential to Upgrade The Physical and Digital World as the U.S. Congress Considers Massive Investment

By: Arti Loftus    5/3/2021

Last month over 75 companies virtually attended the 2021 Frontier Conference, a two-day virtual conference for up-and-coming leaders in the industrial…

Read More

ZEDEDA Introduces Kubernetes Clusters and Hardware Simplification Solution Citing Collaboration with SUSE

By: Arti Loftus    4/30/2021

Following on a series of announcements over the past few months, ZEDEDA today introduced a new Kubernetes direct integration solution designed to simp…

Read More

As Organizations Become Increasingly Connected, the Rise of IoT Operations is Accelerating

By: Arti Loftus    4/29/2021

Enterprise IoT solutions are maturing rapidly, in both size and scope, as more organizations recognize the value of connected systems and realize the …

Read More