NetMotion Wireless, a Seattle-based producer of mobile performance management and security software, has been sold to Washington D.C.-based asset management firm The Carlyle Group.
The deal is set to close in the third quarter of this year, and financial terms were not disclosed.
NetMotion last sold in 2012, when it was acquired by Clearlake Capital Group, an investment firm based in Santa Monica, Calif. Over the last four years under Clearlake, NetMotion launched new products for iOS and the Android platforms, beefed up its research and development and marketing operations and expanded into Europe and Asia.
“We are pleased to have sponsored NetMotion and to have worked closely with the talented management team and employees to transform the business and establish the company as a leading player in an attractive and high-growth segment of the mobile security software market,” Behdad Eghbali, managing partner at Clearlake, said in a statement.
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. Clearlake bought NetMotion six years later. NetMotion says more than 3,500 organizations worldwide use its products. When Clearlake bought NetMotion, that number was 2,000.
