Clarivate Plc, a global leader in providing trusted information and insights to accelerate the pace of innovation, has successfully completed the divestiture of MarkMonitor™, an industry-leading enterprise-level provider of domain management solutions, to Newfold Digital (‘Newfold’), a leading web and commerce technology provider backed by affiliates of Clearlake Capital Group, L.P. (‘Clearlake’) and Siris Capital Group, LLC (’Siris’).
Clarivate expects to use the net cash proceeds it receives from the $302.5 million sale price, $10.6 million of which is expected to be received after completing deferred closings in certain foreign jurisdictions, to reduce its outstanding debt.
Divesting MarkMonitor helps Clarivate focus on investing in its core intellectual property portfolio, including IP lifecycle management and IP intelligence.
Click here to read the original press release.
