Clearlake Capital and TA Associates-backed Ivanti to acquire Cherwell Software from KKR for $430m.

Clearlake Capital and TA Associates-backed Ivanti, a company which automates IT and security operations, agreed to acquire Cherwell Software, a company designing, developing, and producing prepackaged computer software, from KKR for $430m. "The addition of Cherwell's product suite and talented employees solidifies Ivanti's market position as a leader in the large and growing IT service management market, complementing its strong position in unified endpoint management and zero-trust security markets, as well as provides innovative solutions for the attractive enterprise service management market. We are excited to support the Ivanti team in yet another strategic transaction as they continue creating value through M&A and executing their world-class operational playbook," Behdad Eghbali, Clearlake Founder and Managing Partner.