Private equity firm Vector Capital agreed on Wednesday to acquire US-based data integration software provider MarkLogic Corporation for an undisclosed sum, in deal that would allow telecommunications firm NTT to exit.
Founded in 2001, MarkLogic has developed a cloud software platform called Data Hub Service which streamlines the data integration process across a range of data silos, enabling users to organise and index raw data so it can be analysed on a large scale.
NTT had invested an undisclosed amount in MarkLogic in 2017 through its IT services subsidiary, NTT Data.
The company had raised $102m from Wellington Management, Arrowpoint Partners and existing investors Northgate Capital, Sequoia Capital, Tenaya Capital and Gary Bloom two years earlier at a reported $1bn valuation, increasing its total funding to $173m in the process.
Andy Fishman, managing director for Vector Capital, said: “We see significant opportunities for growth and are looking forward to supporting the company as it seeks to capitalise on the increasing complexity of big data.
“MarkLogic’s highly advanced data management capabilities, top-notch talent pool, and blue-chip customer base position it for success and continued expansion.”
Cowen was financial adviser for MarkLogic on the transaction and Cooley was legal counsel, while Paul Hastings was legal counsel to Vector Capital.
