CD&R Is in Talks to Invest $1 Billion in Software Maker Pegasystems
- Shares in Boston-area software maker down 70% in past year
- Pegasystems might owe some $2 billion in damages to Appian
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Private equity firm Clayton Dubilier & Rice is in discussions to invest about $1 billion in enterprise software provider Pegasystems Inc., according to people familiar with the matter.
The investment is strategic for CD&R and not a prelude to a takeover of Pegasystems, said one of the people, asking not to be identified because the matter is private. Terms aren’t finalized and the discussions could still fall apart.