Clearlake Capital Group has acquired substantially all of the assets of Mformation Technologies, a provider of mobile device management (MDM) software. Clearlake is providing a significant capital infusion to accelerate the company’s growth. The new company will be named Mformation.
“With more than 500 million devices under management, over 50 leading service provider and enterprise MSP customers, and growing demand for advanced mobile device management solutions from mobile operators and large organizations, we believe Mformation has a significant and growing market opportunity,” said Todd DeLaughter, Mformation CEO. “We are excited to partner with the Clearlake team, who shares our vision for the company’s potential and brings financial and operational expertise to help us execute on our plan for continued growth.”
Mformation provides mobile device management software that enables mobile operators and service providers to manage and control wireless computing devices, consumer electronics, and other machines. The company offers an integrated mobile device management software solution for open mobile alliance DM-based provisioning and configuration; firmware over the air management; smart phone application management; diagnostics and repair for mobile devices; security management for mobile devices and data; enterprise device management; and customer experience management with voice and data services. The company is based in Edison, NJ (www.mformation.com).
“We found Mformation to be the clear market leader in the MDM software market, with a long history of offering scalable solutions to mobile operators and enterprises,” said Behdad Eghbali, Founding Partner at Clearlake. “The company has an exceptional leadership team that has successfully grown its customer base and brought several new products to the market. We look forward to partnering with management to aggressively scale the business and grow the global presence of this attractive new platform investment in the mobile software sector.”
Clearlake invests in special situations such as corporate divestitures, recapitalizations, buyouts, restructurings, turnarounds and minority equity investments. Sectors of interest include business services, communications and media, energy and power, healthcare, manufacturing, retail/consumer and technology. Clearlake was founded in 2006 and is headquartered in New York, NY (www.clearlakecapital.com).
“We are excited to work with Mformation and provide new capital to accelerate the company’s growth at this important time in its history,” said Prashant Mehrotra, Vice President at Clearlake. Mformation operates at the intersection of several key market trends — such as the proliferation of smart phones and intelligent mobile devices, Machine to Machine (M2M) wireless devices, and the advent of the ‘bring your own device’ phenomenon taking place in enterprises — which are driving the significant increase in demand for scalable mobile device management solutions. We believe the company is well-positioned to address this mission critical need for mobile operators and enterprises.”
© 2012 PEPD • Private Equity’s Leading News Magazine • 9-24-12
