BlackLine Receives Silver Lake Sumeru Investment

BlackLine Systems, a Los Angeles-based software provider, announced that a Silver Lake Sumeru-led investor group signed a definitive agreement to invest in the company. Munger, Tolles & Olson lawyers represented BlackLine in the transaction announced August 15.

BlackLine’s suite of accounting software replaces Excel and other manually-driven, spreadsheet-based methods, according to the press release announcing the deal. “We see an enormous opportunity to bring world-class transaction analytics and workflow technology to financial process management,” said Hollie Moore Haynes, managing director at Silver Lake Sumeru. “BlackLine Systems provides the core foundation for that strategy.”

The Munger Tolles team included corporate lawyers Mary Ann Todd, Maria Seferian, Jasmine M. Roberts and Jesse Max Creed. Williana H. Chang handled compensation aspects; David B. Goldman and Samuel T. Greenberg oversaw tax aspects of the deal.