Clearlake Capital and Motive Partners are acquiring the BETA+ assets including BETA, Maxit, and Digital Investor from the London Stock Exchange Group.
The acquired assets include Beta, a securities processing, custody, clearing and asset servicing technology, Maxit, a cost and tax basis reporting software, and Digital Investor, a front-end client service. As part of the deal, Clearlake and Motive Partners have formed a long-term strategic partnership with LSEG.
Clearlake Capital Group is an investment firm operating integrated businesses across private equity, credit, and other related strategies, with over $60 billion of assets under management. Motive Partners is a private equity firm focusing on control-oriented growth equity and buyout investments in software and information services companies.
“BETA+ has established a strong position in the self-clearing technology space and broader wealth management ecosystem with a reputation for meeting the unique needs of global financial institutions and their clients,” said Behdad Eghbali, managing partner of Clearlake. “We look forward to partnering with Motive Partners, the BETA+ team, and LSEG as the company continues to provide best-in-class solutions to its blue-chip customer base.”
The sponsors were advised by Wells Fargo as an exclusive financial advisor, Sidley Austin LLP as legal counsel, Deloitte as accounting, tax, carveout, and human resources counsel, BCG as a commercial advisor, and Motive Create for technical due diligence. Gibson, Dunn & Crutcher LLP also acted as legal counsel for Motive Partners.