Monday, August 15, 2016

Clearlake Capital Sells NetMotion Wireless

Santa Monica-based private equity investor Clearlake Capital Group announced this morning that it has sold Netmotion Wireless, a developer of mobile security software, to The Carlyle Group. Financial terms of the sale was not announced. Clearlake Capital acquired NetMotion Wireless back in 2012. NetMotion Wireless develops mobile security software for mobile devices, and was based in Seattle. Clearlake Capital said it expects the sale to complete in the third quarter of 2016. NetMotion was advised by Evercore Partners in the deal, with Atlas Technology Group serving as financial advisor to the company's board.