PE Firm Weighs $1B Investment In Pegasystems

Private equity firm Clayton Dubilier & Rice discussed investing about $1 billion in enterprise software provider Pegasystems Inc (NASDAQ: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 (NYSE: TD), Aflac Inc (NYSE: AFL), Cisco Systems, Inc (NASDAQ: CSCO), and Banco Santander S.A. (OTC: BCDRF).
Pegasystems has been embroiled in a trade-secret lawsuit with Appian Corp (NASDAQ: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.