The Carlyle Group LP (Nasdaq: CG) has agreed to acquire wireless technology company NetMotion Wireless Inc. from Clearlake Capital Group LP. Carlyle is making the investment out of the Carlyle Europe Technology Partners III, which closed in 2015. The Washington, D.C., firm has been increasing its investments in the middle market recently, including raising the Carlyle US Equity Opportunity Fund II LP, which closed earlier in 2016.
NetMotion, based in Seattle and founded in 2001, develops software to manage and secure wireless data for companies with mobile workers. Clearlake acquired NetMotion in 2012.
“We see real opportunity to help this business scale internationally, capitalizing on the continuing global increase in mobile performance challenges in the enterprise,” says Carlyle managing director Brooke Coburn. Financial terms of the deal were not disclosed.
Carlyle recently announced plans to buy Japanese business software developer WingArc1st; acquired a majority stake in JenCap Holdings, an insurance broker and Wholesale Trading Co-Op Insurance Services; and agreed to purchase pharmacy benefit manager WelDyneRx.
Clearlake has been buying up companies as well. Earlier in 2016, the PE firm said it will acquire data protection software developer Vision Solutions from Thoma Bravo; purchased a stake in snacks company That’s How We Roll LLC; and in 2015, Clearlake bought car parts manufacturer CNI Enterprises Inc.
Evercore Partners Inc. (NYSE: EVR) and Atlas Technology Group are advising NetMotion.