LONDON, Nov. 1, 2022
/PRNewswire/ -- Clarivate Plc (NYSE:CLVT), a global leader in
providing trusted information and insights to accelerate the pace
of innovation today announced that it has successfully completed
the divestiture of MarkMonitor™, an industry-leading
enterprise-level provider of domain management solutions, to
Newfold Digital ("Newfold"), a leading web and commerce technology
provider backed by affiliates of Clearlake Capital Group, L.P.
("Clearlake") and Siris Capital
Group, LLC ("Siris"). Previously, Clarivate announced on
September 12, 2022, its intent to
divest MarkMonitor to Newfold.
Divesting MarkMonitor helps Clarivate focus on investing in its
core intellectual property portfolio, including IP lifecycle
management and IP intelligence. Clarivate expects to use the net
cash proceeds it receives from the $302.5
million sale price, $10.6
million of which is expected to be received after completing
deferred closings in certain foreign jurisdictions, to reduce its
outstanding debt.
Evercore acted as financial advisor and Blank Rome LLP acted as
legal advisor to Clarivate. Sidley Austin LLP acted as legal
adviser and RBC Capital Markets and J.P. Morgan Securities LLC
acted as financial advisors to Newfold, with BNP PARIBAS, Deutsche
Bank, Mizuho and UBS Investment Bank also providing advice.
About Clarivate
Clarivate™ is a global leader in
providing solutions to accelerate the pace of innovation. Our bold
mission is to help customers solve some of the world's most complex
problems by providing actionable information and insights that
reduce the time from new ideas to life-changing inventions in the
areas of Academia & Government, Life Sciences & Healthcare,
Professional Services and Consumer Goods, Manufacturing &
Technology. We help customers discover, protect and commercialize
their inventions using our trusted subscription and
technology-based solutions coupled with deep domain expertise. For
more information, please visit clarivate.com.
About Newfold Digital
Newfold Digital is a leading
web and commerce technology company serving nearly 7 million
customers globally. Established in 2021 through the combination of
leading web services providers Endurance Web Presence and Web.com
Group, our portfolio of brands includes: Bluehost, CrazyDomains,
HostGator, Network Solutions, Register.com, Web.com and many
others. We help customers of all sizes build a digital presence
that delivers results. With our extensive product offerings and
personalized support, we take pride in collaborating with our
customers to serve their online presence needs. Learn more about
Newfold Digital at Newfold.com.
About Clearlake
Clearlake Capital Group, L.P. is an investment firm founded in 2006
operating integrated businesses across private equity, credit and
other related strategies. With a sector-focused approach, the firm
seeks to partner with management teams by providing patient,
long-term capital to businesses that can benefit from Clearlake's operational improvement approach,
O.P.S.® The firm's core target sectors are technology,
industrials, and consumer. Clearlake currently has over $70 billion of assets under management, and its
senior investment principals have led or co-led over 400
investments. The firm is headquartered in Santa Monica, CA with affiliates in
Dallas, TX, London, UK and Dublin. More information is available at
www.clearlake.com and on Twitter @Clearlake.
About Siris
Siris is a leading private equity firm
that invests primarily in mature technology and telecommunications
companies with mission-critical products and services, facing
industry changes or other significant transitions. Siris'
development of proprietary research to identify opportunities and
its extensive collaboration with its Executive Partners and
Advisors are integral to its approach. Siris' Executive Partners
and Advisors are experienced senior operating executives that
actively participate in key aspects of the transaction lifecycle to
help identify opportunities and drive strategic and operational
value. Siris is based in New York
and West Palm Beach, and has raised nearly $6 billion in cumulative capital commitments.
www.siris.com.
Newfold contact details
Media Contact
Nicole Cassis, Vice
President-Communications
Nicole.cassis@newfold.com
Clarivate contact details
Media Contact
Amy Bourke Waite, Snr Director,
Corporate Communications
newsroom@clarivate.com
Investor Relations Contact
Mark Donohue, Head of Investor
Relations
mark.donohue@clarivate.com
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SOURCE Clarivate Plc