Clearlake Capital Group LP has reached a deal to acquire NetDocuments, a cloud-based document management service provider, for an undisclosed amount. Clearlake’s investment will support the target’s product development initiatives and sales strategy.
NetDocuments, founded in 1999, has developed software for the legal industry to handle manage documents and emails. The target’s software combines security, mobility, disaster recovery, and collaboration capabilities for legal professionals. Orem, Utah-based NetDocuments is used in approximately 140 countries, by companies such as: Quicken Loans, Dorsey & Whitney LLP, and Nelson Mullins Riley & Scarborough. William Blair & Company LLC is serving as financial adviser to NetDocuments.