PE Firm Weighs $1B Investment In Pegasystems

November 22, 2022 10:27 AM | 1 min read | Make a Comment

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 TD, Aflac Inc AFL, Cisco 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.