|By Business Wire||
|May 14, 2014 07:01 AM EDT||
Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) today announced that it has reached a definitive agreement to acquire ConvergeOne (the “Company”), a leading independent provider of innovative communications solutions and managed services to enterprises globally.
Headquartered in Eagan, MN, ConvergeOne offers one source for comprehensive multivendor solutions – from initial design and implementation through ongoing consulting, technical support, and managed services across the spectrum of IT, contact center solutions, and unified communications. ConvergeOne maintains strategic relationships with global solution leaders, including Avaya, Cisco Systems, IBM, Interactive Intelligence and Microsoft. ConvergeOne has more than 4,100 customers, including 46 percent of the Fortune 100 companies, operating in virtually every industry, including the financial, technology/communications, healthcare, and energy sectors.
“We are excited to partner with the talented management team of ConvergeOne as we make a significant investment in the Company,” said Behdad Eghbali, a Founding Partner of Clearlake. “With its long-standing reputation for exceptional technology solutions, service delivery, customer focus, and innovative managed services, coupled with Clearlake’s capital resources and operational capabilities, we believe the Company is well positioned to accelerate growth and build substantial value.”
“We have enjoyed a great partnership with Genstar,” said John McKenna, CEO of ConvergeOne. “We look forward to partnering with Clearlake to continue to differentiate the Company by focusing on managed services and innovative technology solutions. Clearlake’s proven track record and substantial resources will be instrumental in adding lasting value to our business. It is very exciting for us that Clearlake shares our vision for accelerating growth and is investing in our strategy.”
“ConvergeOne has long been recognized by its partners for transforming the latest innovations into meaningful business productivity for its customers. We believe the Company is well-positioned to address significant market trends, including the increasing complexity of communications systems and customer requirements for a value-added solutions provider,” added Prashant Mehrotra and James Pade of Clearlake.
Along with Mr. McKenna, Messrs. Eghbali, Mehrotra and Pade of Clearlake will join the Company’s Board of Directors.
BMO Capital Markets and Credit Suisse served as financial advisors to Clearlake. William Blair & Co. acted as financial advisor to ConvergeOne. Credit Suisse and BMO Capital Markets have provided committed debt financing backing Clearlake’s acquisition of the Company.
About Clearlake Capital Group
Clearlake Capital Group, L.P. is a private investment firm focused on special situations and private equity investments such as corporate divestitures, recapitalizations, buyouts, reorganizations, and other equity investments. Clearlake seeks to partner with world-class management teams by providing patient, long-term capital and operational expertise to invest in dynamic businesses. Clearlake currently manages approximately $1.4 billion of equity capital, and Clearlake’s founding principals have led over 70 investments totaling more than $3 billion of capital in sectors including business services, communication, consumer products/retail, defense/public safety, energy/power, healthcare, industrials, media, software and technology. For more information, please visit www.clearlakecapital.com.
ConvergeOne, headquartered in Eagan, MN, is a leading independent provider of data, communications, collaboration, and customer interaction solutions and managed services. The Company provides essential consulting and project management services related to custom design, installation, implementation, maintenance, and managed services of best-in-class data and communication solutions. ConvergeOne offers a “one-stop” destination for its broad spectrum of valued customer relationships, providing in-depth technical expertise and total solution focus. Custom services include converged networks and unified communication solutions, call centers, system design, implementation, integration, maintenance, data storage and archiving, and other managed services, primarily for mid-sized and enterprise businesses. For more information, please visit www.converge-one.com.
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
Feb. 7, 2016 06:45 PM EST Reads: 135
Father business cycles and digital consumers are forcing enterprises to respond faster to customer needs and competitive demands. Successful integration of DevOps and Agile development will be key for business success in today’s digital economy. In his session at DevOps Summit, Pradeep Prabhu, Co-Founder & CEO of Cloudmunch, covered the critical practices that enterprises should consider to seamlessly integrate Agile and DevOps processes, barriers to implementing this in the enterprise, and pr...
Feb. 7, 2016 05:15 PM EST Reads: 310
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
Feb. 7, 2016 04:45 PM EST Reads: 180
The principles behind DevOps are not new - for decades people have been automating system administration and decreasing the time to deploy apps and perform other management tasks. However, only recently did we see the tools and the will necessary to share the benefits and power of automation with a wider circle of people. In his session at DevOps Summit, Bernard Sanders, Chief Technology Officer at CloudBolt Software, explored the latest tools including Puppet, Chef, Docker, and CMPs needed to...
Feb. 7, 2016 04:15 PM EST Reads: 254
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
Feb. 7, 2016 03:30 PM EST Reads: 368
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, will provide an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profes...
Feb. 7, 2016 02:45 PM EST Reads: 134
SYS-CON Events announced today that VAI, a leading ERP software provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. VAI (Vormittag Associates, Inc.) is a leading independent mid-market ERP software developer renowned for its flexible solutions and ability to automate critical business functions for the distribution, manufacturing, specialty retail and service sectors. An IBM Premier Business Part...
Feb. 7, 2016 02:00 PM EST Reads: 551
One of the bewildering things about DevOps is integrating the massive toolchain including the dozens of new tools that seem to crop up every year. Part of DevOps is Continuous Delivery and having a complex toolchain can add additional integration and setup to your developer environment. In his session at @DevOpsSummit at 18th Cloud Expo, Miko Matsumura, Chief Marketing Officer of Gradle Inc., will discuss which tools to use in a developer stack, how to provision the toolchain to minimize onboa...
Feb. 7, 2016 02:00 PM EST
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
Feb. 7, 2016 01:45 PM EST Reads: 359
Fortunately, meaningful and tangible business cases for IoT are plentiful in a broad array of industries and vertical markets. These range from simple warranty cost reduction for capital intensive assets, to minimizing downtime for vital business tools, to creating feedback loops improving product design, to improving and enhancing enterprise customer experiences. All of these business cases, which will be briefly explored in this session, hinge on cost effectively extracting relevant data from ...
Feb. 7, 2016 01:30 PM EST
In most cases, it is convenient to have some human interaction with a web (micro-)service, no matter how small it is. A traditional approach would be to create an HTTP interface, where user requests will be dispatched and HTML/CSS pages must be served. This approach is indeed very traditional for a web site, but not really convenient for a web service, which is not intended to be good looking, 24x7 up and running and UX-optimized. Instead, talking to a web service in a chat-bot mode would be muc...
Feb. 7, 2016 01:15 PM EST Reads: 181
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed...
Feb. 7, 2016 01:00 PM EST Reads: 329
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection.
Feb. 7, 2016 01:00 PM EST Reads: 147
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
Feb. 7, 2016 12:00 PM EST Reads: 341
As someone who has been dedicated to automation and Application Release Automation (ARA) technology for almost six years now, one of the most common questions I get asked regards Platform-as-a-Service (PaaS). Specifically, people want to know whether release automation is still needed when a PaaS is in place, and why. Isn't that what a PaaS provides? A solution to the deployment and runtime challenges of an application? Why would anyone using a PaaS then need an automation engine with workflow ...
Feb. 7, 2016 11:45 AM EST Reads: 124