Clarivate focusing on enabling corporations
and law firms to innovate faster and unlock the true value of IP
across patents, trademarks and copyright
MarkMonitor to strengthen Newfold Digital's
enterprise domain management capabilities
LONDON and JACKSONVILLE, Fla., Sept. 12, 2022 /PRNewswire/ -- Clarivate Plc
(NYSE:CLVT), a global leader in providing trusted information and
insights to accelerate the pace of innovation, today announced that
Newfold Digital ("Newfold"), a leading web and commerce technology
provider backed by Clearlake Capital Group, L.P. (together with its
affiliates, "Clearlake") and Siris
Capital Group, LLC (together with its affiliates, "Siris"), has
signed a definitive agreement to purchase MarkMonitor™, an
industry-leading enterprise-level provider of domain management
solutions.
Under the terms of the agreement, Clarivate will receive cash
proceeds of approximately $302.5
million. The transaction is expected to close in late 2022
subject to the satisfaction of regulatory approvals and other
customary closing conditions.
Gordon Samson, Chief Product
Officer of Clarivate, said: "Newfold is a natural fit for
MarkMonitor. After the deal closes, we believe the integration of
these two companies will create a rich product suite and
differentiated web presence offering that brings value to
businesses of all sizes. We are confident that MarkMonitor will
continue to thrive and deliver even greater services to its
customers under Newfold. After this transaction is closed,
Clarivate will be better placed to focus even more attention and
investment on our core portfolio and everything critical to IP
lifecycle management."
The acquisition of MarkMonitor will underscore Newfold Digital's
continued commitment to providing differentiated web presence
solutions to customers across the globe. MarkMonitor, an
ICANN-accredited registrar and recognized industry leader since
1999, serves the domain management needs of approximately 2,000
clients globally, with a focus on Fortune 500 companies and other
large corporate clients. This will make MarkMonitor a natural
extension of Newfold's portfolio of web technology brands, which
includes Network Solutions, the world's first registrar, Web.com,
Bluehost, Register.com and Domain.com.
"As web presence needs continue to grow and evolve, domain
management and protection is becoming more important. Companies
need reliable partners and solutions that deliver results, and
MarkMonitor is well-known for its expertise in serving the domain
portfolio needs of some of the most sophisticated digital companies
in the world, making it a natural fit for our family of web
technology brands," said Sharon
Rowlands, CEO of Newfold Digital.
The MarkMonitor team, led by Head of Domain Management Stu
Homan, will join Newfold.
"We're proud that Newfold recognizes the value of MarkMonitor's
top-tier global domain management service," Homan said. "The
combined capabilities of MarkMonitor and Newfold will deliver and
improve on the same great services that our clients have enjoyed
and relied upon for years."
"MarkMonitor will bring a rich history of industry experience
and innovative solutions, and we are looking forward to welcoming
the team to Newfold," said James
Pade, Partner, Clearlake,
and Tyler Sipprelle, Managing
Director at Siris, each a director of Newfold.
MarkMonitor is currently expected to generate approximately
$80 million of revenue and
$35 million of EBITDA for the full
year 2022.
Sidley Austin is acting as legal
adviser and RBC Capital Markets and J.P. Morgan Securities LLC are
acting as financial advisors to Newfold, with BNP PARIBAS
Securities Corp., Deutsche Bank, Mizuho and UBS Investment Bank
also providing advice. Evercore is acting as financial advisor and
Blank Rome LLP is acting as legal advisor to Clarivate.
About Clarivate
Clarivate™ is a global leader in
providing solutions to accelerate the pace of innovation. Our bold
mission is to help customers solve some of the world's most complex
problems by providing actionable information and insights that
reduce the time from new ideas to life-changing inventions in the
areas of Academia & Government, Life Sciences & Healthcare,
Professional Services and Consumer Goods, Manufacturing &
Technology. We help customers discover, protect and commercialize
their inventions using our trusted subscription and
technology-based solutions coupled with deep domain expertise. For
more information, please visit clarivate.com.
About Newfold Digital
Newfold Digital is a leading web
and commerce technology company serving nearly 7 million customers
globally. Established in 2021 through the combination of leading
web services providers Endurance Web Presence and Web.com Group,
our portfolio of brands includes: Bluehost, CrazyDomains,
HostGator, Network Solutions, Register.com, Web.com and many
others. We help customers of all sizes build a digital presence
that delivers results. With our extensive product offerings and
personalized support, we take pride in collaborating with our
customers to serve their online presence needs. Learn more about
Newfold Digital at Newfold.com.
About Clearlake
Clearlake Capital Group, L.P.
is an investment firm founded in 2006 operating integrated
businesses across private equity, credit and other related
strategies. With a sector-focused approach, the firm seeks to
partner with management teams by providing patient, long-term
capital to businesses that can benefit from Clearlake's operational improvement approach,
O.P.S.® The firm's core target sectors are technology,
industrials, and consumer. Clearlake currently has over $70 billion of assets under management, and its
senior investment principals have led or co-led over 400
investments. The firm is headquartered in Santa Monica, CA with affiliates in
Dallas, TX, London, UK and Dublin. More information is available at
www.clearlake.com and on Twitter @Clearlake.
About Siris
Siris is a leading private equity firm
that invests primarily in mature technology and telecommunications
companies with mission-critical products and services, facing
industry changes or other significant transitions. Siris'
development of proprietary research to identify opportunities and
its extensive collaboration with its Executive Partners and
Advisors are integral to its approach. Siris' Executive Partners
and Advisors are experienced senior operating executives that
actively participate in key aspects of the transaction lifecycle to
help identify opportunities and drive strategic and operational
value. Siris is based in New York,
Silicon Valley and West Palm
Beach, and has raised nearly $6
billion in cumulative capital commitments.
www.siris.com.
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