Siemens AG has bought Brightly Software from Clearlake Capital Group.

Brightly is a software-as-a-service provider of cloud-based enterprise asset management.

Kevin Kemmerer, CEO at Brightly Software, said, “This is an exciting day for Brightly as it represents an important milestone in the Company’s history after going through a strategic transformation over the past few years under Clearlake’s guidance. Siemens’ acquisition of Brightly represents confidence in our plans to scale across end markets and geographies, our ability to accelerate our market leadership position in enterprise asset management, and our goal to help our clients create more sustainable communities. We are proud and grateful to Clearlake for the work we have done together.”

William Blair & Company and SVB Securities acted as financial advisors to Brightly. Sidley Austin LLP provided legal counsel to Brightly and Clearlake.