Newfold Digital, a provider of web and commerce technology and backed by Clearlake Capital Group and Siris Capital Group, has purchased MarkMonitor, a provider of domain management services, from Clarivate Pic.

MarkMonitor provides domain management services to approximately 2,000 clients globally, with a focus on Fortune 500 companies. With the deal, Newfold aims to further expand their web presence services to customers across the globe. Under the terms of the agreement, Clarivate will receive proceeds of approximately $302.5 million. The transaction is expected to close in late 2022. The MarkMonitor team, lead by head of domain management Stu Homan, will join Newfold.

“We’re proud that Newfold recognizes the value of MarkMonitor’s top-tier global domain management service,” Homan says.  “The combined capabilities of MarkMonitor and Newfold will deliver and improve on the same great services that our clients have enjoyed and relied upon for years.”

Sidley Austin is acting as legal adviser and RBC Capital Markets and J.P. Morgan Securities are acting as financial advisors to Newfold, with BNP Paribas, Deutsche Bank, Mizuho and UBS Investment Bank also providing advice. Evercore is acting as financial advisor and Blank Rome LLP is acting as legal advisor to Clarivate.