Brussels, 16 August 2022
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Ephesoft, Inc. by Clearlake Capital Group, L.P. (‘Clearlake’) and TA Associates Management, L.P. (‘TA Associates’), all of the US. Ephesoft provides an intelligent document-processing platform for global consultancies and systems integrators for mid-large enterprise and users. Clearlake is a private equity firm active in software and technology-enabled services, energy and industrials, food and consumer products. TA Associates is a private equity firm active in business and financial services, consumer industries, healthcare and technologies. The Commission concluded that the proposed acquisition would raise no competition concerns, given the companies’ limited combined market position and the limited activities of Ephesoft in the European Economic Area. The transaction was examined under the simplified merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.10823.
Source – EU Commission