Centerbridge Partners has reached a deal with Clearlake Capital to buy a newly merged company, consisting of two software developers Syncsort and Vision Solutions, for $1.26 billion. The new company will be headquartered in Pearl River, New York and operate under the Syncsort brand.

Software-as-a-service (SaaS) companies are driving tech deals throughout 2017 and are expected to continue, according to Mergers & Acquisitions’ Mid-Market Pulse (MMP). Other SaaS deals include: TA Associates’ agreement with the Carlyle Group (Nasdaq: CG) to acquire real-time monitoring software provider ITRS; Hewlett Packard Enterprise Co.’s (NYSE: HPE) deal to buy software company SimpliVity for $650 million in cash; Thoma Bravo’s deal to acquire software maker Planview.

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