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McLean software company to go public through acquisition

Katishi Maake
McLean software company to go public through acquisition

Tysons-based KLDiscovery is selling to New York blank check company Pivotal Acquisition Corp. (NYSE: PVT) in a move that allows the local data and compliance software firm to go public at a value of $800 million. The deal would mark the publicly traded debut of one of the region's largest private and fastest-growing players, one backed by majority shareholders The Carlyle Group LP and Revolution Growth. KLD President and CEO Chris Weiler and Chief Financial Officer Dawn Wilson will keep their roles at the new company, while former General Motors CEO Dan Akerson will serve as board chairman.