Wealth management software provider BetaNXT, backed by Clearlake Capital and Motive Partners, announced that it has acquired Mediant Communications, a New York City-based provider of investor communications technology and technology-enabled solutions to banks, brokers, corporations, funds, and investment managers.

Financial terms were not disclosed.

The partnership enhances BetaNXT’s suite of wealth management solutions, expanding the company into investor communications, a news release said.

BetaNXT will incorporate Mediant’s technology to digitize “the investor communications process into its broader suite of software solutions, which includes real-time data capabilities, cost basis and tax reporting solutions, and front, middle and back-office applications,” the release said, adding that the integration will allow wealth management firms to realize additional cost savings and a more streamlined communications process that will benefit investors.

“Adding Mediant to the BetaNXT platform enhances our ability to be a trusted partner for companies looking to integrate communications into their wealth management platforms, BetaNXT chairman and CEO Stephen C. Daffron said in a statement. “We are now able to offer an additional functionality that will benefit our clients and allow their operations to be more connected.”

Mediant’s CEO Arthur Rosenzweig said, “BetaNXT’s culture, vision, and client base made the combination an intriguing opportunity for Mediant’s next phase of growth. We look forward to working alongside the BetaNXT team to grow our combined company together and better serve our clients.”

New York City-based BetaNXT, which has been operating for 40 years, supports more than 50 million retail accounts, has more than $6 trillion of assets on the platform, and processes more than 35 million securities-related transactions daily.

Santa Monica, Calif.-based Clearlake Capital Group LP is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. It has affiliates in Dallas, Texas, London and Dublin, Ireland.

Motive Partners, a specialist private equity firm with offices in New York City and London, focuses on growth equity and buyout investments in technology-enabled financial and business services companies in North America and Europe.