On July 6, 2017, Clearlake Capital Group, L.P. announced that it has entered into a definitive agreement to merge enterprise software providers Syncsort Inc. and Vision Solutions, two companies acquired by Clearlake in 2015 and 2016 respectively, along with the sale of a significant ownership position of the combined company to Centerbridge Partners, L.P., a private investment management firm. Pursuant to the agreement, Clearlake will retain a meaningful ownership stake in the company, which will operate under the Syncsort name. The $1.26 billion transaction is expected to close in the third quarter of 2017. Clearlake Capital Group is a private investment firm founded in 2006. The firm’s target sectors include software and technology-enabled services, industrials and energy, and consumer. Clearlake currently manages approximately $4 billion of equity capital. Syncsort is a global leader in Big Iron to Big Data solutions. Vision Solutions is a provider of software solutions that are designed to protect data, minimize downtime and maximize resources for data centers.