Report: Insight, Blackstone, Clearlake Considering $7B Sale of Diligent

Buyout firms Insight Partners, Blackstone, and Clearlake are reportedly at the early stages of a possible sale of Diligent, a governance software company jointly owned by the private equity investors, according to unnamed sources cited by Reuters.

The trio of Diligent owner firms are said to have already begun interviewing investment banks for a sale process in which Diligent could be valued at nearly $7B, including debt, and is expected to launch by next year. Fellow private equity firms and data providers, such as LSEG and S&P Global, are among the potential buyers, Reuters reported.

The New York-based SaaS firm had been taken private and removed from the New Zealand stock exchange after its acquisition by Insight Partners for $624M in 2016. Clearlake and Blackstone subsequently took minority interests in the company in 2018 and 2020, respectively.

Source: https://www.reuters.com/markets/deals/private-equity-owners-diligent-explore-7-billion-sale-software-maker-sources-say-2024-11-14/