On Thursday, Silver Lake Sumeru, Silver Lake's middle-market investment group, announced it would purchase a majority stake in BlackLine Systems. BlackLine Systems is currently a fast-growing financial software provider headquartered in Los Angeles. Boeing Co and AT&T Inc are some of its clients.

Silver Lake and BlackLine refused to disclose the terms of their agreement. However, a person with knowledge of the matter said Silver Lake would pay up to USD200 million for the stake. Debt financing would not be included in the deal.

The two companies released a statement that said Therese Tucker, the founder and chief executive of BlackLine, would remain in her position. Tucker would also keep hold of a major equity interest in the corporation. Furthermore, the deal was expected to be finalized this month.

In 2001, Tucker founded BlackLine. According to the statement, the company's customer base is over 75,000 in more than 100 countries. Also, its revenue boosted more than 55% year on year during the first half of 2013.

"We see an enormous opportunity to bring world-class transaction analytics and workflow technology to financial process management," Silver Lake Sumeru's managing director, Hollie Moore Haynes, said in the statement.