Mergers: Commission clears acquisition of Ivanti by Charlesbank, together with Clearlake and TA Associates

Source: EU Commission  

The European Commission has approved, under the EU Merger Regulation, the acquisition of Ivanti Software, Inc. (‘Ivanti’) by Charlesbank Capital Partners, LLP, (‘Charlesbank‘) together with Clearlake Capital Group L.P. (‘Clearlak’) and TA Associates Management, L.P., (‘TA Associates’) all of the U.S. Ivanti is currently jointly controlled by Clearlake and TA Associates. Ivanti offers a software platform for companies’ internal IT departments, which provides user management and industrial mobility software and solutions. Charlesbank is a private equity firm with portfolio companies active in business services, consumer, healthcare, industrial and technology infrastructure. Clearlake is a private investment firm with portfolio companies active in software and technology-enabled services, energy and industrials, and consumer. TA Associates is a private equity firm with portfolio companies active in selected industries, including business services, consumer, financial services, healthcare and technologies. The Commission concluded that the proposed acquisition would raise no competition concerns since there are no horizontal nor vertical overlaps between the activities of Ivanti and Charlesbank. The operation was examined under the simplified merger review procedure. More information will be available on the Commission’s competition website, in the public case register under the case number M.10233.

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