CDK suitors Advent, Bain add tech-specialist partners
11 January 2018 - 12:00 am UTC
Three private equity groups are pursuing technology company CDK Global [NASDAQ:CDK] in the second round of its sale process, said three sources familiar with the matter.
Advent International has teamed up with Thoma Bravo and Bain Capital has partnered with Vista Equity Partners, these sources said. Silver Lake is also pursuing CDK, they added.
Thoma Bravo, Vista and Silver Lake specialize on buying software and technology companies. Advent and Bain invest in companies in a number of different sectors, including technology.
Last year, this news service reported that CDK, a Hoffman Estates, Illinois-based developer of software and marketing services for auto dealerships, was working with Morgan Stanley and Credit Suisse to explore a sale.
CDK declined to comment. The private equity firms either declined to comment or did not return requests for comment.
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