Ivanti, Inc., a Salt Lake City, Utah-based provider of enterprise-grade intelligent IT management and security software solutions, received a strategic growth investment from TA Associates.
TA will join existing investor Clearlake Capital Group, L.P. as institutional shareholders in Ivanti.
The amount of the deal – expected to close in the second half of 2020, pending customary regulatory approvals and closing conditions – was not disclosed.
The company intends to use the funds to increase its investment in innovation, accelerate its global growth and continue its acquisition strategy.
Led by CEO Jim Schaper, Ivanti provides solutions that automate IT and security operations, enabling customers to discover, manage, secure and service their IT infrastructure from cloud environments to edge devices. The software is utilized by over 24,000 customers across various industries and five continents, and its solutions allow administrators to discover IT assets on-premises, in the cloud and at the edge; improve IT service delivery; and reduce risk with insights and automation.
Harry Taylor, a Managing Director at TA Associates, and Hythem El-Nazer, a Managing Director at TA Associates, will join the Ivanti Board of Directors upon the closing of the transaction.
Sidley Austin LLP represented Ivanti, Inc., in their definitive agreement with TA Associates for a strategic growth investment in the company.