Press Release

Clearlake Capital Acquires Perforce Software and ProVation Medical

February 1, 2018

Palo Alto – February 1, 2018 – Cooley advised Clearlake Capital on its recent acquisitions of leading software solutions companies Perforce Software and ProVation Medical. Cooley partner Mehdi Khodadad led the teams advising Clearlake on the transactions. 

Under the terms of the acquisition of Perforce Software from Summit Partners, the company will continue to be led by Janet Dryer, CEO, and Mark Ties, COO, who will join the board of directors alongside Clearlake representatives. “This announcement represents another major milestone in our transformation of Perforce,” said Dryer in a recent news release. Ties added that he expects “Clearlake’s deep software experience and its proved ability to help companies grow will provide invaluable support as we continue to broaden our development operations solutions, expand internationally and pursue acquisition strategy.”

Perforce Software is the developer of the industry’s most flexible, scalable and secure version control and collaboration platform. Enterprises across the globe rely on Perforce to build and deliver digital products faster and with higher quality.

The second transaction is a carve-out buyout of ProVation Medical from Netherlands-based conglomerate Wolters Kluwer NV. ProVation Medical is a market-leader in procedure documentation and order set management software solutions. Hospitals and ambulatory surgery centers use ProVation solutions to improve their coding accuracy, eliminate transcription costs and consolidate financial, clinical and administrative tasks. 

Cooley has a longstanding relationship with Clearlake, advising the firm on various transactions and portfolio matters since 2011.

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