Diligent's Potential $7 Billion Sale Draws Private-Equity Interest

Diligent's private-equity owners are considering strategic options, including a potential $7 billion sale. Insight Partners, Blackstone, and Clearlake are interviewing investment banks as they plan a sale next year. The software company serves over 700,000 board members and management teams globally. The decision to sell is driven by current market conditions.

The private-equity owners of Diligent are considering various strategic options such as a sale, which might value the corporate-governance software maker at nearly $7 billion, including debt, according to sources familiar with the matter.

Insight Partners, Blackstone, and Clearlake, the buyout firms that collectively own the New York-based company, have commenced interviews with investment banks to prepare for a potential sale process early next year. Potential buyers could include other private-equity firms and data providers like LSEG and S&P Global.

Sources report that these discussions are still preliminary and may not lead to a deal. The decision comes as private-equity firms seek to exit longstanding investments amid a more favorable market environment following a period of high interest rates.

(With inputs from agencies.)