“NetMotion is the clear market leader with unmatched technology and an exceptional leadership team that has successfully continued to grow its suite of offerings. We look forward to working closely with management to bring NetMotion’s products to many untapped vertical markets and deliver next generation solutions to continue serving the company’s loyal customer base as we seek to enhance value at this exciting company,” said Clearlake founding partner Behdad Eghbali in a release.
Formed in 2001 as a spin-off from WRQ, NetMotion merged with Padcom in 2006, leading to private equity firm Liberty Partners taking a majority stake. It employs about about 130 people, and counts more than 2,000 customers. Those include organizations like Allina Hospitals and Clinics, Ameren Corporation, Comcast IP Services, The Phoenix Police Department and St. Jude Medical Inc.
NetMotion is led by CEO Bob Hunsberger who noted in today’s release that Clearlake “shares our vision to accelerate growth by capitalizing on this dynamic period for our industry.” As part of the deal, Chris Gibbons of Clearlake, the former CIO at Microsoft, will serve as chairman of NetMotion’s board of directors.