Clearlake Capital Acquires New Jersey Tech FirmMonday, September 24, 2012
Clearlake Capital Group LP on Monday said that it has acquired most of the assets of Mformation Technologies Inc., a provider of mobile-device management software that recently had a favorable legal judgment overturned on appeal.
Clearlake Capital, a Santa Monica investment firm specializing in “special situation” opportunities, said that Mformation Technologies now will be known simply as Mformation and but will continue to be headquartered in Edison, N.J. Clearlake plans a significant capital infusion to accelerate growth, but financial terms were not disclosed.
Mformation’s technology enables businesses such as mobile-service providers and corporations to remotely control configure, manage and secure the cell phones, tablets and other mobile devices of customers and employees.
Mformation sued Blackberry maker Research in Motion in 2008 for infringement on two patents. A federal jury in San Francisco ruled in Mformation’s favor in July and determined that RIM was liable for $147 million in damages. But the monetary award was overturned on appeal last month.
This is Clearlake’s second mobile-tech acquisition this month. The firm earlier acquired NetMotion Wireless Inc., a Seattle provider of mobile network technology.