PE Firm Weighs $1B Investment In Pegasystems

  • Private equity firm Clayton Dubilier & Rice discussed investing about $1 billion in enterprise software provider Pegasystems Inc PEGA.
  • The investment is strategic for CD&R and not a prelude to a takeover of Pegasystems, Bloomberg reports.
  • Also Read: Pega Delivers Best Quarter of the Year in Q3 2022
  • Founded by CEO Alan Trefler in 1983, the company sells software to improve business processes.
  • Pegasystems' clients included Toronto Dominion Bank TDAflac Inc AFLCisco Systems, Inc CSCO, and Banco Santander S.A. BCDRF.
  • Pegasystems has been embroiled in a trade-secret lawsuit with Appian Corp APPN, which awarded Appian more than $2 billion in damages
  • Price Action: PEGA shares traded higher by 3.72% at $36.48 on the last check Tuesday.
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