Centerbridge Partners, a private investment firm, signed a definitive agreement to acquire enterprise software providers Syncsort and Vision Solutions, from Clearlake Capital Group.

Upon completion of the $1.26 billion transaction, Syncsort and Vision will be combined, creating a “Big Iron to Big Data” platform investment controlled by Centerbridge.

Evercore and Jefferies served as financial advisors to Syncsort and Vision Solutions. Bank of America Merrill Lynch and Credit Suisse served as financial advisors to Centerbridge. Financing for the transaction was provided by Bank of America Merrill Lynch, Credit Suisse and Antares Capital.

Clearlake, which acquired Syncsort in 2015 and Vision in 2016, is retaining a minority ownership stake.

“We see a great opportunity to bring together Syncsort and Vision to create a global Big Iron to Big Data platform that addresses critical business requirements for leading enterprises across all major industries,” said Jared Hendricks, a senior managing director at Centerbridge. “Josh and the Syncsort management team have done an outstanding job of focusing on high-value use cases and strategic partnerships to drive organic growth, while executing an aggressive acquisition strategy.”

Centerbridge Partners is a private investment management firm with $29 billion in assets under management, and offices in New York and London.