Clearlake Shores Up OSS Firm
That's because Clearlake Capital Group L.P. has led a "recapitalization" of the telecom software specialist, providing "a significant capital infusion to help fuel the Company's expansion." (See Clearlake Props Up Mycom.)
What counts as "significant" in the world of OSS is anyone's guess, though Clearlake's representatives say the private equity firm doesn't get out of bed (metaphorically) for investments less than $50 million, but usually doesn't pump in more than $100 million. That doesn't mean for sure, of course, that Mycom has seen that amount of cash.
Those representatives also say that the company hasn't been restructured and that the money is to fund further growth, including new hires, for a company that is already profitable. The current management team also remains intact.
Further background details of the deal, and the implications of the new investment, may leak out at the Dublin show next week. Certainly Mycom's partners such as HP Inc. (NYSE: HPQ) and customers such as Thailand's CAT Telecom Public Co. Ltd. and SFR in France, along with many others, will want to know what's behind the move. (See Mycom Integrates Its OSS With HP, CAT Deploys Mycom's OSS and Mycom Wins Contract With SFR.)
— Ray Le Maistre, International Managing Editor, Light Reading