Investor fund acquires NetDocuments
US investment fund Clearlake Capital Group is to acquire NetDocument, the provider of secure cloud-based document management, email management, and collaboration solutions to law firms and corporate legal and compliance departments.
The Company will continue to be led by Matt Duncan, CEO, and Alvin Tedjamulia, CTO, who will both join the Board of Directors alongside Clearlake. Financial terms were not disclosed.
Founded in 1999, NetDocuments is currently used in more than 140 countries and by over 20 percent of Am Law 200 law firms, as well as numerous leading corporations and legal departments.
NetDocuments plans to use the investment funds to accelerate growth organically by continuing to build on a successful product development and sales strategy, and also inorganically through acquisitions.
"Our customers expect to be able to easily access and work with their business content on any device at any time while maintaining the highest levels of security and privacy," added Alvin Tedjamulia, CTO NetDocuments.
"We are eager to begin our partnership with Clearlake and continue building our next generation cloud platform to address complex customer needs."