Clearlake Capital Group Buys Mobile Device Management Firm Mformation

Santa Monica-based private equity firm Clearlake Capital Group said today that it has acquired substantially all of the assets of Mformation Software Technologies, a developer of mobile device management software. Financial terms of the buy were not disclosed. Clearlake said the acquisition includes a "significant capital infusion" for the New Jersey company. Clearlake's Behdad Eghbali and Prashant Mehrotra are both joining Mformation's board with the acquisition and investment. Clearlake said it was advised by Blackstone Group, Cooley LLP, and DLA Piper LLP in the deal.