Two Firms Help Vector Capital Sell MarkLogic for $355 Million

Paul Hastings is advising San Francisco-based private equity firm Vector Capital on the sale of its portfolio company MarkLogic, a provider of cloud-based services for enterprise data management.

Paul Hastings is also advising San Carlos, California-based MarkLogic on its sale, for $355 million, to Progress Software Corporation, a provider of application development and infrastructure software. Nasdaq-listed Progress, based in Burlington, Vermont, is getting counsel from DLA Piper on the transaction, which is expected to close in early 2023, according to a statement.

Vector Capital, which bought MarkLogic in late 2020, said the company has over 2,500 customers for its ...