Motive Partners

Clearlake Capital and Motive Partners to acquire BETA,
Maxit, and Digital Investor from LSEG, adding new
capabilities to their wealth ecosystem, and forms a strategic
partnership between BETA+, the Sponsors’ portfolio
companies and LSEG

Santa Monica, New York, London, March 21, 2022 – Clearlake Capital Group, L.P.
(“Clearlake”) and Motive Partners (“Motive” and collectively, the “Sponsors”), today
announced that they have entered into a definitive agreement to acquire the BETA+ assets
from London Stock Exchange Group (“LSEG”), which encompasses the assets of BETA
(securities processing, custody, clearing, and asset servicing technology), Maxit (cost and
tax basis reporting software), and Digital Investor (front-end client solutions), collectively
referred to as “BETA+”. Additionally, Clearlake and Motive Partners have simultaneously
formed a long-term strategic partnership with LSEG, in which LSEG will provide content,
data, and tools to BETA+ and the Sponsors’ other portfolio companies.

The wealth management industry continues to demonstrate opportunities, bolstered by
tailwinds across the spectrum including a significant movement in technology
modernization, industry consolidation, increases in retail trading, and democratization of
the capital markets. Over recent years, the space has exhibited growth across various
avenues, compounded by investment from new and established players. This has presented
opportunities for well-placed investors and innovators to digitize legacy technology,
expand product offerings to address unmet demand, and create efficiencies along the
value chain.

Clearlake and Motive’s thesis in wealth management technology focuses on providing the
Wealth Management industry with frictionless digital experiences, catalyzing the
democratization of wealth solutions, and delivering hyper-personalized solutions to end
clients. By acquiring the BETA+ assets from LSEG and creating a standalone platform,
Clearlake and Motive intend to execute on a buy and build strategy, supported by
Clearlake’s proprietary O.P.S.® framework and Motive’s value creation plan developed by
Motive Create and the Industry Partner team. This will include building critical platform
infrastructure on the back-end of the Wealth workflow, with a plan to utilize proprietary
expertise and know-how to augment the core BETA+ platform technology, enhance
functionality for the existing blue-chip client set, enter new and high-growth markets, and
cultivate partnerships within the combined Wealth ecosystems of the Sponsors. Clearlake
and Motive continue to execute on a similar thesis with their existing portfolio company,
InvestCloud. The Sponsors are also focused on the long-term strategic partnership between
BETA+, the Sponsors’ other portfolio companies and LSEG, to offer new products and
greater operational efficiencies to clients across these various platforms.

The Sponsors were advised by Wells Fargo as exclusive financial advisor, Sidley Austin LLP
as legal counsel, Deloitte as accounting, tax, carveout and human resources counsel, BCG
as commercial advisor, and Motive Create for technical due diligence. Gibson, Dunn &
Crutcher LLP also acted as legal counsel for Motive Partners. The deal is expected to close
in the second half of 2022, subject to regulatory approvals and other customary closing

About Clearlake
Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated
businesses across private equity, credit and other related strategies. With a sector-focused
approach, the firm seeks to partner with management teams by providing patient, longterm
capital to businesses that can benefit from Clearlake’s operational improvement
approach, O.P.S.® The firm’s core target sectors are technology, industrials, and consumer.
Clearlake currently has over $60 billion of assets under management, and its senior
investment principals have led or co-led over 300 investments. The firm is headquartered in
Santa Monica, CA with affiliates in Dallas, TX and London, UK.
More information is available at and on Twitter @Clearlake.
“BETA+ has established a strong position in the self-clearing technology space and
broader wealth management ecosystem with a reputation for meeting the unique
needs of global financial institutions and their clients,” said Behdad Eghbali, Co-
Founder and Managing Partner, and James Pade, Partner of Clearlake. “We
look forward to partnering with Motive Partners, the BETA+ team, and LSEG as the
company continues to provide best-in-class solutions to its blue-chip customer

“BETA+, together with our other portfolio companies, will be focused on creating
frictionless, digital-first experiences for clients, advisors, and home office personnel
with streamlined processes, reduced costs, and increased retention and
satisfaction, ultimately making it easier for Wealth clients to obtain solutions which
address their financial needs. We’re looking forward to partnering with Clearlake
once again to continue our transformation of the wealth management sector at a
critical time for the industry,“ said Stephen C. Daffron, Co-Founder and Industry
Partner of Motive Partners.

About Motive Partners
Motive Partners is a specialist private equity firm with offices in New York City and London,
focusing on control-oriented growth equity and buyout investments in software and
information services companies based in North America and Europe and serving five
primary subsectors: Banking & Payments, Capital Markets, Data & Analytics, Investment
Management and Insurance. Motive Partners brings differentiated expertise, connectivity
and capabilities to create long-term value in financial technology companies.
More information on Motive Partners can be found at

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