NAIC News
To support the growing number of new initiatives and programs brought about by a substantial increase in membership, NAIC is proud to announce today that we are expanding our team with the addition of David Smith, who joins the association as Programs and Initiatives Manager effective August 26th. In this multifaceted role, Smith will manage several of NAIC’s strategic programs designed to support members, broaden public awareness of the superior performance diverse-owned investment management firms deliver, support and strengthen industry partnerships, and cultivate relationships with existing and potential new member firms. A key member of the NAIC staff, Smith will be directly involved in: Executing and enhancing current NAIC programs Identifying the needs of and supporting partner organizations to bolster alliances and increase high-level engagement Collaborating with the marketing and communications team to enhance the NAIC brand nationally and internationally Developing key industry insights to further sharpen NAIC’s ability to
EAGAN, Minn., December 18, 2017 – ConvergeOne, a leading global IT services provider of collaboration and technology solutions, today announced that it has acquired Alexander Open Systems (“AOS”), a leading IT consulting group headquartered in Overland Park, Kansas. Effective immediately, AOS is now AOS, a ConvergeOne Company. This acquisition further solidifies ConvergeOne’s position as a leading provider of collaboration and IT-enabled solutions in the market today. ConvergeOne serves as a trusted advisor to more than 11,000 customers, including 57 percent of the Fortune 100 and 42 percent of the Fortune 500 across the healthcare, finance, manufacturing, education, and energy industries. A Microsoft Gold Partner, AOS specializes in architecting, implementing and supporting an expansive portfolio of solutions including cloud, collaboration, data center, networking, security, virtualization, business intelligence and more. “This acquisition enables us to broaden our portfolio and expand our coverage in the United States. AOS has been providing leading edge
NORWALK, Conn.–(BUSINESS WIRE)–Datto, the leading provider of total data protection solutions for businesses around the world, today announced it has finalized its acquisition by Vista Equity Partners (“Vista”), a leading investment firm focused on software, data and technology-enabled businesses. The acquisition, first announced in late October, and the simultaneous merger with Vista portfolio company Autotask, have been followed by an intensive integration between the companies. The result is a single entity designed to empower Managed Service Providers (“MSPs”) with Autotask’s in demand IT business management offerings and Datto’s award-winning data protection solutions. As part of joining forces, Datto announced the formation of a new executive team. Under the direction of Datto CEO and Founder, Austin McChord, the senior management will now include Patrick Burns, Vice President of Product Management and Adam Stewart, Senior Vice President of Engineering of Autotask who will join the pre-existing Datto team. “With a small and
NEW YORK, October 17, 2017 – Siris Capital Group, LLC (“Siris”) today announced that investment funds affiliated with Siris have entered into a definitive agreement to acquire 100% of the common stock of Intralinks Holdings, Inc. (“Intralinks”), a global leader for secure data sharing and enterprise collaboration solutions and a wholly owned subsidiary of Synchronoss Technologies, Inc. (“Synchronoss”) (NASDAQ: SNCR), a leading provider of cloud-based, white-label software solutions for communications and media companies. Investment funds affiliated with Siris have also entered into a definitive agreement to make an investment in convertible preferred equity of Synchronoss. Under the terms of the agreements, investment funds affiliated with Siris will acquire all of the stock of Intralinks for approximately $1 billion in consideration and Intralinks will become an independent, privately owned portfolio company of investment funds affiliated with Siris. Under the terms of the agreements, investment funds affiliated with Siris will make an
SAN JOSE, Calif.–(BUSINESS WIRE)–Xactly (NYSE:XTLY), a leading provider of cloud-based incentive solutions, today announced that it has been acquired by Vista Equity Partners (“Vista”), a leading private equity firm focused on investments in software, data and technology-enabled businesses. The transaction, originally announced on May 30, 2017, was completed on July 31, 2017. Xactly’s stockholders approved the acquisition on July 28, 2017. The acquisition – which combines Xactly’s product and industry leadership with Vista’s strategic and operational expertise for high-growth SaaS companies – begins the next phase of growth for Xactly, in which the company will continue to focus on innovation and thought leadership in cloud-based incentive compensation solutions. “Twelve years ago, we set out on a mission to transform the way companies approach incentive compensation,” said Christopher W. Cabrera, founder and CEO of Xactly. “Joining Vista marks a significant milestone on our journey. Vista is the ideal partner to accelerate
SAN JOSE, CA – AUGUST 1st 2017 – Pulse Secure, LLC (“Pulse Secure”), a leading provider of secure access solutions to both enterprises and service providers, today announced that it has completed the acquisition of assets associated with the Virtual Application Delivery Controller (vADC) product family from Brocade Communications Systems, Inc. (“Brocade”). The transaction includes a leased research and development facility in Cambridge, UK and associated customer support and maintenance contracts. The acquisition adds significant new capabilities to the Pulse Secure Access Platform offering a complete end-to-end Secure Access solution designed to reduce cost and complexity, increase security, and delight users. “This acquisition is not only about adding great products to our Secure Access platform, it’s about gaining an outstanding team who are seasoned in the vADC industry,” said Sudhakar Ramakrishna, CEO of Pulse Secure. “Combining the vADC group with our existing Pulse team, we are truly a force to
Los Angeles and New York, August 1, 2017 – Marquee Brands LLC announced today that it has acquired the entire portfolio of brands from BCBG Max Azria Global Holdings, LLC including the BCBGMAXAZRIA®, BCBGeneration® Herve Leger® brands and all related intellectual property. Established in 1989, BCBG Max Azria was launched and named for the French phrase “bon chic, bon genre” (great style, great attitude) and quickly took the fashion world by storm, becoming synonymous with European flare, American style and affordable pricing. Throughout its history, BCBG has been a favorite amongst influencers and celebrities and is a staple in women’s wardrobes. “Acquiring these three brands is transformational for Marquee as we step firmly into women’s fashion and further diversify our portfolio,” said Zachary Sigel, Managing Director of Neuberger Berman. “Our mandate and focus on buying relevant brands with their greatest years ahead hasn’t wavered and this acquisition further evidences that
Audax Private Equity, along with CEO and Founder of EnviroVac Kevin Jackson, and the EnviroVac Management team have acquired EnviroVac, a leading provider of mission-critical cleaning and maintenance services to the power & utilities, pulp & paper, chemical, steel, and manufacturing industries. The seller is RLJ Equity Partners, LLC. No financial terms were disclosed. Houlihan Lokey provided financial advice to EnviroVac on the transaction. July 10, 2017 09:59 AM Eastern Daylight Time SAVANNAH & BOSTON–EnviroVac Holdings, LLC (“EnviroVac,” or the “Company”), a leading provider of mission-critical cleaning and maintenance services, and Audax Private Equity (“Audax”), a leading private equity firm headquartered in Boston, today announced that Audax has acquired the ownership interest in EnviroVac held by RLJ Equity Partners, LLC (“RLJ”). EnviroVac, headquartered in Savannah, GA, utilizes a state-of-the-art fleet of highly technical, innovative, and specialized equipment to perform a broad suite of complementary, high-value added services, ranging from routine
Santa Monica, CA – July 6, 2017 – Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) today announced a definitive agreement to merge enterprise software providers Syncsort Incorporated (“Syncsort”) and Vision Solutions, Inc. (“Vision”) as well as the simultaneous sale of a significant ownership position in the combined company to Centerbridge Partners, L.P. (“Centerbridge”). Upon completion of the $1.26 billion transaction, Clearlake, which acquired Syncsort in 2015 and Vision in 2016, will retain a meaningful ownership stake. The transaction is expected to close in the third quarter of 2017, subject to customary closing conditions and regulatory approvals. The combined company, led by Syncsort CEO Josh Rogers and operating under the Syncsort name, will be headquartered in Pearl River, NY. Each business is expected to benefit from the dramatic increase in global presence, as well as significantly expanded product offerings, afforded by the combination. Vision CEO Nicolaas Vlok is anticipated
New York, NY, July 6, 2017 – New MainStream Capital (“NMS”), announced today that, in partnership with Drs. Christopher Quinn, Douglas Grayson, Burton Wisotsky and Michael Veliky, it has made a strategic investment in Omni Ophthalmic Management Consultants, LLC and its affiliates (“Omni” or “Omni Eye Services”) to provide practice management services to Omni Eye Specialists P.A. (“OES”) and, following receipt of the necessary consents and approvals, to acquire a majority interest in Essex Specialized Surgical Institute, LLC (“ESSI”). In connection with the transaction, NMS will invest in Omni alongside management, and provide additional capital to further support Omni’s future growth through acquisitions, de novo office openings, provider recruitment and investment in infrastructure. Founded in 1998, Omni is an optometric referral practice providing a full range of specialty services for the advanced treatment of eye diseases through a network of six offices, including one which operates an ophthalmology-focused ambulatory surgery