MARKET MOVEMENT
Clearlake Capital completes acquisition of Quest
Clearlake Capital Group , L . P has announced that it has completed its previously announced acquisition of Quest Software a global cybersecurity , data intelligence , and IT operations management software provider , from Francisco Partners . Patrick Nichols , CEO , Quest will continue to lead the company supported by the existing executive management team . Terms of the deal were not disclosed .
Founded in 1987 , Quest Software has built a reputation over three decades as a critical software solution provider for security-sensitive customers and an innovator in addressing rapidly evolving risks and security threats .
“ As the world relies more and more on digital applications , organisations are continuing to look to Quest to manage
strategic enterprise IT functions and enable increased cybersecurity and greater productivity ,” said Nichols . “ With Clearlake as our partner , Quest will continue to innovate and evolve our solutions to address the various challenges businesses are facing today , ranging from application migration and cloud deployment to data protection and security resiliency .”
“ Quest is an exciting addition to Clearlake ’ s cybersecurity and infrastructure software portfolio , and we are thrilled to begin our partnership with Patrick and the Company ’ s talented management team ,” said Behdad Eghbali , Co-Founder and Managing Partner , and Prashant Mehrotra , Partner at Clearlake . “ We believe that Quest is well positioned to continue leading the identitycentric cybersecurity , data intelligence , and IT operations markets .”
Patrick Nichols , CEO , Quest
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Gupshup acquires AI-powered voice provider Knowlarity
Gupshup , a maker of conversational engagement solutions , has announced the acquisition of Knowlarity Communications . Knowlarity is a global provider of cloud communications , offering cloud telephony , contact centre automation , AI-powered voice assistants and speech analytics solutions to over 6,000 customers across 65 countries .
The acquisition complements Gupshup ’ s industry-leading Conversational Messaging suite and establishes Gupshup as one of the leaders in voice and video communications .
“ As business-to-consumer engagement becomes conversational , Gupshup is busy enabling more ways for businesses to deliver rich experiences . With the addition of Knowlarity ’ s products , businesses will now be able to build seamless conversational experiences across both messaging and voice channels ,” said Beerud Sheth , Cofounder and CEO , Gupshup . “ Knowlarity is the clear market leader in voice – their comprehensive product suite spanning cloud telephony and contact center automation , along with excellent customer traction will further enhance Gupshup ’ s leadership position . I ’ m excited to welcome the Knowlarity team to the Gupshup family .”
Yatish Mehrotra , CEO , Knowlarity “ We at Knowlarity are excited to be a part of Gupshup . This will lead to richer experiences for our existing and future customers along with product enrichment and significant geographic expansion opportunities . Our customer-centric , innovation-focused cultures are perfectly aligned and we see significant synergies and new products emerging from the combination of two great teams ,” said .
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