Clearlake Capital Group and Symphony Technology Group have agreed to sell risk management cloud software provider Archer Technologies to Cinven.
The deal is expected to close in the middle of 2023 subject to customary closing conditions and regulatory approvals. The terms of the transaction were not disclosed.
Founded in 2000 and headquartered in Overland Park, Kansas, Archer is a leading provider of integrated risk management cloud software solutions with products that encompass compliance, governance, security, audit and ESG.
STG acquired Archer in 2020 as a part of its purchase of RSA Security from Dell Technologies, and subsequently partnered with Clearlake in 2021 to establish Archer as an independent business.
Over the course of Clearlake’s and STG’s ownership, Archer was strategically repositioned as a standalone IRM platform to help further continued expansion under the guidance of a new executive leadership team.
As part of this shift, the company expanded its product offerings with a focus on ESG risk quantification and modelling.
As a result, Archer has roughly doubled the size of its software-as-a-service ARR under Clearlake and STG’s ownership. The company currently has over 1,000 customers across the globe, including more than 50% of the Fortune 500 spanning financial services, healthcare, technology, consumer and other end-markets.
