(Reuters) – Personal fairness corporations Clearlake Capital Group and TA Associates have acquired management of the U.S. software program firm Exactly from one other personal fairness agency in a $ 3.5 billion deal. {dollars}, a supply aware of the matter informed Reuters.

The vendor, Centerbridge Companions, will stay a minority investor, the supply stated on Tuesday night.

It was not instantly clear how a lot Clearlake and TA Associates would every maintain in Precately, or how the operation will probably be funded.

The Wall Road Journal had earlier reported that TA Associates and Clearlake, who was already a minority investor in Precately, had agreed to again Precately, whose authorized title is Syncsort Inc, and turn out to be its new house owners.

Centerbridge Companions bought enterprise software program firms Syncsort and Imaginative and prescient Options Inc from Clearlake Capital for $ 1.26 billion in 2017. Clearlake retained a minority stake within the mixed enterprise following the closing of this transaction.

Income from exactly hit round $ 600 million final 12 months and is predicted to rise from $ 650 million to $ 700 million this 12 months, the Wall Road Journal reported on Tuesday, citing chief govt Josh Rogers.

Has exactly about 12,000 prospects, together with main banks, main telecommunications firms, healthcare and retail firms, and the federal government, in accordance with Rogers.

In 2019, e-commerce options firm Pitney Bowes Inc bought its software program options enterprise to Precately for $ 700 million in an all-cash transaction.