CLEARLAKE CAPITAL GROUP ACQUIRES SWI
Will Accelerate Growth of eCommerce Leader of Watches, Accessories and Apparel
SANTA MONICA, LONDON and ATLANTA – May 18, 2011 – Clearlake Capital Group, L.P. (“Clearlake”) today announced that it led a recapitalization of Mycom Group Limited (“MYCOM” or the “Company”) and provided a significant capital infusion to help fuel the Company’s expansion plans. MYCOM is a leading global provider of innovative wireless engineering services and best-in-class Next Generation OSS Service Assurance software solutions to the telecom industry. MYCOM has fifteen offices in eight countries across Europe, Asia, and North America, and serves blue chip, global telecommunications customers. Additional terms were not disclosed.
“MYCOM’s mission is to deliver superior, value-added advanced engineering services and software solutions, enabling the world’s leading wireless and convergent communications companies to succeed in the face of tremendous transformational challenges. Clearlake’s financial and strategic backing enhances our ability to significantly expand our footprint and gain market share while continuing to maintain our commitment to excellent delivery for our customers,” said Siamak Sarbaz, Founder and Chief Executive Officer of MYCOM. “Our proven technical pedigree in the design and delivery of 2G and 3G networks combined with our pioneering role in designing and supporting large, heterogeneous environments and the need for next generation LTE/4G wireless networks accelerates our momentum as an industry leader.”
“MYCOM is at the forefront of the mobile broadband revolution, helping global carriers successfully address the explosion of bandwidth consumption and proliferation of mobile applications and services,” said Behdad Eghbali, a Founding Partner at Clearlake. “The company is well-positioned to benefit from growing investments in upgrading and maintaining existing and Next Generation wireless networks. We are very excited to partner with MYCOM’s dynamic management team and look forward to sponsoring the Company’s continued aggressive growth trajectory.”
MYCOM’s Services business provides value-added managed services for core network upgrades, provisioning, maintenance, software and hardware upgrades, as well as access networks design, deployment, and testing services for mobile network operators. The Company’s Software division develops, licenses, and supports the NIMS-PrOptima suite of products-a globally recognized, leading Service Assurance solution to convergent multi-vendor and heterogeneous networks around the world.
Along with Mr. Eghbali, José E. Feliciano, a Founding Partner of Clearlake, and Arta Tabaee, a Vice President at Clearlake, have joined the Company’s Board of Directors. America’s Growth Capital acted as financial advisor to MYCOM in this transaction.
ABOUT CLEARLAKE CAPITAL GROUP
Clearlake Capital Group, L.P. is a private investment firm focused on special situations private equity such as corporate divestitures, recapitalizations, buyouts, restructurings, turnarounds and other equity investments. Clearlake seeks to partner with world-class management teams by providing patient, long-term capital and operational expertise to invest in businesses going through change. Clearlake’s founding principals have led over 50 investments totaling more than $2.7 billion of capital in sectors including business services, communications and media, energy and power, healthcare, manufacturing, retail/consumer and technology. For more information, please visit www.clearlakecapital.com.
ABOUT MYCOM
MYCOM is a leading provider of innovative engineering services and unique carrier grade software solutions to the global wireless communications industry. MYCOM is increasingly focusing on the rapidly growing wireless telecoms software sector and providing software and services solutions in the industry’s highest-growth niche, Service Assurance (SA) within Operational Support Systems (OSS) to wireless operators and equipment manufacturers worldwide since 1997. MYCOM has 15 offices in eight countries in Europe, Asia, and North America. The company has a blue chip multi-national client base that includes well-known wireless OEMs and Tier One wireless operators in EMEA, APAC, and the Americas. MYCOM’s growth has been due to its exceptional vision and leadership in the development of 3G technology and NGNs. The expertise gained in these technologies has enabled MYCOM to pioneer the performance management of such 3G networks, and achieve a leadership position today in the performance management and service assurance of advanced convergent telecom networks. This added to the unique triple expertise in software excellence, systems integration and network engineering, now makes MYCOM the partner of choice for over 40 leading global telecom carriers across more than 30 countries. For more information, please visit www.mycomint.com.
MEDIA CONTACTS:
Kristin Celauro, 732-264-1131 or
Joanne Lessner, 212-222-7436
FOR CLEARLAKE
Owen Blicksilver Public Relations, Inc.
