CVC to acquire ConvergeOne for about $1.8 bln

CVC Capital Partners has agreed to acquire ConvergeOne, a global IT and managed services provider of collaboration and technology solutions. The sellers include Clearlake Capital Group. The value of the deal is about $1.8 billion. The deal is expected to close either in the fourth quarter of 2018 or the first quarter of 2019. Raymond James & Associates and William Blair provided financial advice to ConvergeOne in the deal while Deutsche Bank and UBS Investment Bank did likewise for CVC.

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