Clarivate Announces Successfully Complete Divestiture of MarkMonitor to Newfold Digital

Clarivate-Announces-Successfully-Complete-Divestiture-of-MarkMonitor-to-Newfold-Digital
Clarivate-Announces-Successfully-Complete-Divestiture-of-MarkMonitor-to-Newfold-Digital

Clarivate Plc , a global leader in providing trusted information and insights to accelerate the pace of innovation today announced that it has successfully completed the divestiture of MarkMonitor™, an industry-leading enterprise-level provider of domain management solutions, to Newfold Digital (“Newfold”), a leading web and commerce technology provider backed by affiliates of Clearlake Capital Group, L.P. (“Clearlake“) and Siris Capital Group, LLC (“Siris”). Previously, Clarivate announced on September 12, 2022, its intent to divest MarkMonitor to Newfold.

Also Read:-Why Marketers Should Never Rely Solely on Domain-Level Intent

Divesting MarkMonitor helps Clarivate focus on investing in its core intellectual property portfolio, including IP lifecycle management and IP intelligence. Clarivate expects to use the net cash proceeds it receives from the $302.5 million sale price, $10.6 million of which is expected to be received after completing deferred closings in certain foreign jurisdictions, to reduce its outstanding debt.

Evercore acted as financial advisor and Blank Rome LLP acted as legal advisor to Clarivate. Sidley Austin LLP acted as legal adviser and RBC Capital Markets and J.P. Morgan Securities LLC acted as financial advisors to Newfold, with BNP PARIBAS, Deutsche Bank, Mizuho and UBS Investment Bank also providing advice

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