(Corrects paragraph 6 to Evercore from Evercore ISI)
July 6 (Reuters) - Private equity firm Centerbridge Partners L.P. said on Thursday it would buy enterprise software companies Syncsort Inc and Vision Solutions Inc from Clearlake Capital Group L.P. for $1.26 billion.
Clearlake Capital will merge the two firms before selling a significant stake in the combined company to Centerbridge as part of the deal. It will also retain a minority stake in the new entity, the firm said.
The combined company will be led by Syncsort Chief Executive Josh Rogers and will be headquartered in Pearl River, New York.
Vision CEO Nicolaas Vlok is expected to become an adviser to the merged entity, which will operate under the Syncsort name.
Centerbridge Partners, which had around $29 billion in assets under management as of May, has previously invested in Extended Stay America, U.S. autoparts-maker Dana and wireless satellite venture Ligado Networks.
Evercore and Jefferies Group were financial advisers to Syncsort and Vision Solutions, while Bank of America Merrill Lynch and Credit Suisse were advising Centerbridge.
The deal was funded by Bank of America Merrill Lynch, Credit Suisse and Antares Capital, Clearlake said in a statement. (Reporting by Laharee Chatterjee in Bengaluru; Editing by Saumyadeb Chakrabarty)