Clearlake and Siris-Backed Newfold Digital Expands E-commerce Solutions with the Acquisition of YITH
YITH helps customers grow digital storefronts globally as one of the largest providers of WooCommerce plugins
JACKSONVILLE, Fla., March 17, 2022 /PRNewswire/ — Newfold Digital, a leading web and commerce technology provider backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) and Siris Capital Group, LLC (together with its affiliates, “Siris”), has acquired YITH, one of the largest independent sellers and developers of WooCommerce plugins and themes for WordPress, a free and open-source content management system. Terms of the transaction were not disclosed.
With nearly 2.3 million active installs and more than 100 plugins that expertly solve most e-commerce needs, YITH enables customers to build and grow online WooCommerce stores. WooCommerce is the world’s #1 open-source e-commerce software, powering 22% of the top 1 million e-commerce sites in the world.
“For businesses everywhere, e-commerce has become a necessity to compete in today’s marketplace. Our nearly 7 million customers not only need online storefronts, but advanced features to support their specific niches, from advanced product catalog functionality to gift card solutions,” said Sharon Rowlands, CEO of Newfold Digital. “YITH’s impressive library of reliable WooCommerce plugins will help support our customers with their 2022 e-commerce resolutions.”
“Newfold Digital is a leader in WordPress and WooCommerce, and we are excited to join their growing business,” said Nando Pappalardo, CEO of YITH. “Our mission to support online sellers across the globe will continue under Newfold’s leadership and will drive new innovation to match consumer behavior changes. As YITH joins Newfold Digital, we will continue to maintain the plugin library and deliver on our promise of reliability as we have for years.”
“YITH brings a wealth of e-commerce expertise, and we are delighted to welcome the team to Newfold Digital,” said James Pade, Partner at Clearlake, and Tyler Sipprelle, Managing Director at Siris.
About Newfold Digital
Newfold Digital is a leading web and commerce technology company serving nearly 7 million customers globally. Established in 2021 through the combination of leading web services providers Endurance Web Presence and Web.com Group, our portfolio of brands includes: Bluehost, CrazyDomains, HostGator, Network Solutions, Register.com, Web.com and many others. We help customers of all sizes build a digital presence that delivers results. With our extensive product offerings and personalized support, we take pride in collaborating with our customers to serve their online presence needs. Learn more about Newfold Digital at Newfold.com.
About YITH
YITH is the first worldwide independent marketplace for WooCommerce plugins. Unlike other marketplaces, YITH designs, develops, maintains and supports its library of over 100 free and premium WooCommerce plugins ensuring reliability year after year. All plugins are developed through a proprietary framework that grants 100% compatibility among plugins and the latest WordPress technologies for advanced features online sellers need to build and grow their business. Learn more about YITH at Yithemes.com.
About Clearlake
Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long-term capital to businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are technology, industrials, and consumer. Clearlake currently has over $60 billion of assets under management, and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas. More information is available at www.clearlake.com and on Twitter @Clearlake.
About Siris
Siris is a leading private equity firm that invests primarily in mature technology and telecommunications companies with mission-critical products and services, facing industry changes or other significant transitions. Siris’ development of proprietary research to identify opportunities and its extensive collaboration with its Executive Partners and Advisors are integral to its approach. Siris’ Executive Partners and Advisors are experienced senior operating executives that actively participate in key aspects of the transaction lifecycle to help identify opportunities and drive strategic and operational value. Siris is based in New York, Silicon Valley and West Palm Beach, and has raised nearly $6 billion in cumulative capital commitments. www.siris.com.
Media Contacts
For Newfold Digital:
Emily Watkins
corporatecommunications@newfold.com
For Clearlake:
Jennifer Hurson
Lambert & Co.
845-507-0571
jhurson@lambert.com
For Siris:
Dana Gorman / Blair Hennessy
Abernathy MacGregor
212-371-5999
dtg@abmac.com / bth@abmac.com