M&A Deal Summary

Insight Partners, Clearlake Capital and The Blackstone Group Acquire Diligent

On February 14, 2016, venture capital firm Insight Partners, private equity firm Clearlake Capital and private equity firm The Blackstone Group acquired internet software and services company Diligent for 624M USD

Acquisition Highlights
  • This is Insight Partners’ 9th, Clearlake Capital’s 1st and The Blackstone Group’s 7th transaction in the Internet Software and Services sector.
  • This is Insight Partners’ 10th, Clearlake Capital’s 10th and The Blackstone Group’s 117th largest (disclosed) transaction.
  • This is Insight Partners’ 31st, Clearlake Capital’s 28th and The Blackstone Group’s 130th transaction in the United States.
  • This is Insight Partners’ 2nd, Clearlake Capital’s 2nd and The Blackstone Group’s 16th transaction in New York.

M&A Deal Summary

Date 2016-02-14
Target Diligent
Sector Internet Software and Services
Buyer(s) Insight Partners
Clearlake Capital
The Blackstone Group
Deal Type Going Private
Deal Value 624M USD
Advisor(s) Jefferies
Morgan Stanley
District Capital Partners (Financial)
Lowenstein Sandler (Legal)

Target

Diligent

New York, New York, United States
Diligent is a provider of cloud-based corporate governance and collaboration solutions for boards and senior executives. Diligent’s multi-tenant SaaS platform provides directors with a single application to securely and reliably access, edit and share materials while satisfying security and compliance requirements. Diligent was launched in 2007 and is headquartered in New York, New York.

Search 201,771 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 3

Buyer

Insight Partners

Investor Investor Investor Investor Investor


Category Venture Capital Firm
Founded 1995
PE ASSETS 80.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Insight Partners is a growth capital investment firm focused on early to later stage investments principally in the software sector. Insight Partners was formed in 1995 and is based in New York, New York.


DEAL STATS #
Overall 37 of 91
Sector (Internet Software and Services) 9 of 21
Type (Going Private) 3 of 7
State (New York) 2 of 6
Country (United States) 31 of 72
Year (2016) 2 of 8
Size (of disclosed) 10 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-21 QASymphony

Atlanta, Georgia, United States

QASymphony is an agile software company that provides enterprise test case management and exploratory testing solutions for development and QA teams. QASymphony's qTest Platform helps companies create better software by improving speed, efficiency, collaboration and analysis during the testing process. The company has over 400 customers across 20 countries including Salesforce, Barclays, Adobe, Samsung, Verizon and Office Depot. QASymphony was founded in 2011 and is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-16 LiveAction

Palo Alto, California, United States

LiveAction, is a provider of enterprise IT network visibility software platform. LiveAction was founded in 2007 and is based in Palo Alto, California.

Buy -
Buyer

Clearlake Capital

Santa Monica, California, United States

Category Private Equity Firm
Founded 2006
PE ASSETS 72.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clearlake Capital Group is a private equity firm that focuses on corporate divestitures, recapitalizations, buyouts, restructurings, rescue financing, growth capital, turnarounds, and other equity investments. Clearlake seeks to partner with strong management teams by providing long-term capital and operational expertise. Areas of interest include technology, industrials, and consumer. Clearlake Capital Group was formed in 2006 and is based in Santa Monica, California.


DEAL STATS #
Overall 30 of 90
Sector (Internet Software and Services) 1 of 13
Type (Going Private) 3 of 7
State (New York) 2 of 5
Country (United States) 28 of 85
Year (2016) 1 of 7
Size (of disclosed) 10 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-15 Inventus Solutions

Chicago, Illinois, United States

Inventus Solutions, Inc. is a provider of eDiscovery and litigation support services focused on streamlining data processing and review via a suite of bundled, best-of-breed technologies.

Sell $232M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-18 Lytx

San Diego, California, United States

Lytx is a provider of all-in-one video telematics, analytics, safety, and productivity solutions for commercial, public sector, and field services fleets. Lytx customizable services and programs span driver safety, risk detection, fleet tracking, compliance, and fuel management. Lytx was founded in 1998 and is based in San Diego, California.

Buy $500M
Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York, New York.


DEAL STATS #
Overall 207 of 340
Sector (Internet Software and Services) 7 of 23
Type (Going Private) 18 of 36
State (New York) 16 of 22
Country (United States) 130 of 211
Year (2016) 3 of 10
Size (of disclosed) 117 of 172
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-11 Clarion Offshore Partners

Houston, Texas, United States

Clarion Offshore Partners is a global investment platform that provides strategic solutions to the offshore oil & gas drilling industry. With a broad and flexible mandate, Clarion seeks to provide creative solutions to a wide spectrum of industry participants including, offshore drilling companies, shipyards, financial institutions, entrepreneurs, and oil and gas operators.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-22 Rijnmond Power Plant

Vondelingenplaat, Netherlands

Rijnmond Power Plant is a natural gas-fired combined cycle power generation facility.

Buy -