Sidley is representing Brightly Software, Inc. and Clearlake Capital Group, L.P. in its sale to Siemens AG for US$1.575 billion of upfront cash consideration, along with US$300 million in cash earn-out payments, for a total of US$1.875 billion. Clearlake acquired Brightly, a software-as-a-service (“SaaS”) provider formerly known as “Dude Solutions,” in June 2019. Under Clearlake’s ownership, Brightly transformed into a cloud-based asset management software platform with a broad suite of products solving operational and planning needs. The transaction is expected to close in the second half of 2022 and is subject to customary closing conditions and regulatory approvals.
The Sidley team is being led by Mehdi Khodadad and Nicolai Schwarz-Gondek (M&A and Private Equity), and includes Avni Mehta, Feifei Bian, Ashley Rogers, Jackson Long, and Jonathan Litsey (M&A and Private Equity); Karen Kazmerzak, Ken Daly, and Laura Collins (Antitrust/Competition); Eric Kauffman, Peter McCorkell, and Emily Wajert (Labor and Employment); Stacy Crosnicker and Sarah Recktenwald (Employee Benefits and Executive Compensation); Nicholas Schwartz, Shayona Dhanak, and Pietro Fontana (Global Finance); James Mendenhall, Jen Fernandez, Sven De Knop, Howard Stanislawski, Justin Becker, and Alessandra Moroni (International Trade); David Lashway, John Woods Jr., Ash Nagdev, and Sasha Hondagneu-Messner (Privacy and Cybersecurity); Rachel Kleinberg and Jonathan Westreich (Tax); Robert Velevis and Eric Schwartz (Litigation); and Kyle Barnett and Julia Chester (Technology and Life Sciences Transactions).