Siris Closes Sale of its 50% Ownership Stake in Constant Contact
NEW YORK, Feb. 15, 2024 — Siris Capital Group (together with its affiliates, “Siris”), a leading private equity firm focused on investing and driving value creation in technology companies, today announced the closing of Siris’ sale of its 50% ownership stake in Constant Contact. Clearlake Capital Group and other investors have increased their ownership as a result of this transaction.
Headquartered in Waltham, Massachusetts, Constant Contact provides a cloud-based marketing software platform that enables millions of small businesses and nonprofits globally to create and track personalized marketing campaigns fueled by data-driven insights.
“We invested in Constant Contact in 2021 to reinvigorate a long-standing digital marketing leader following its carve-out from Endurance International Group,” said Tyler Sipprelle, a Partner at Siris. “CEO Frank Vella and the entire Constant Contact team have made significant progress towards this objective, and we look forward to Constant Contact achieving continued success moving forward.”
“Siris specializes in investing in mature technology businesses and supporting them operationally through transitions,” said Frank Baker, a Co-Founder and Managing Partner at Siris. “The carve-out, repositioning, and growth acceleration at Constant Contant, now culminating in the sale of our ownership stake, are a strong testament to the ability of our strategy to create value across market environments.”
BofA Securities served as financial advisor and Sidley Austin LLP served as legal advisor to Siris.
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 and West Palm Beach and manages approximately $7 billion in assets under management as of September 30, 2023 across three institutional funds. www.siris.com.
About Constant Contact
Constant Contact delivers everything small businesses and nonprofits need to build, grow and succeed. With powerful online marketing tools, contact management and sales features, and innovative AI capabilities, Constant Contact makes it easy to attract the right people, engage more customers, close more deals and grow. www.constantcontact.com
SOURCE Siris Capital Group, LLC