Kirkland & Ellis is advising Boston-based private equity firm Clearhaven Partners LP and its portfolio company TimeTrade Systems on their acquisition of SilverCloud LLC, a provider of customer and knowledge management software for financial institutions.
No financial terms were revealed for the deal, which combines TimeTrade, maker of enterprise scale online scheduling software, with SilverCloud to form a customer experience, or CX, software company initially called TimeTrade SilverCloud.
The combined company will have over 600 customer enterprises working in sectors including financial services, health care, retail and technology, according to a statement.
The deal reflects Clearhaven’s belief in the importance of technology solutions to reduce friction in business, said Michelle Noon, Clearhaven Partners’ managing partner and co-founder, and TimeTrade chairman of the board.
“SilverCloud is a high-quality software-as-a-service business with a loyal customer base and a complementary solution set that optimizes customer and employee experience,” Noon said. “The acquisition is an ideal strategic fit for TimeTrade.”
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