June 5 (Reuters) - Private equity firm Clearlake Capital

is exploring a sale of Confluence Technologies, hoping a deal

will value the financial software and data management provider

at more than $3 billion, including debt, according to four

people with knowledge of the matter.

Clearlake is working with investment banks Morgan Stanley ( MS )

and Centerview Partners on the sale process for

Confluence, said the sources.

The sources cautioned a sale was not guaranteed and

spoke on condition of anonymity as the discussions are

confidential.

Clearlake Capital and Centerview Partners declined to

comment. Morgan Stanley ( MS ) and Confluence did not immediately

respond to requests for comment.

Confluence is a global software and data management provider

for asset managers, which helps automate business processes. The

company has more than 900 employees in 15 offices globally and

services over 1,000 clients in more than 40 countries, according

to its website.

The Pittsburgh, Pennsylvania-based company was founded in

1991 by Mark Evans, who still remains the company's chief

executive officer.

Clearlake acquired its majority stake in Confluence in 2021

from TA Associates, which itself first invested in Confluence in

2018.

Soon after Clearlake took control, Confluence bought

software provider Investment Metrics for $500 million, and

acquired Compliance Solutions Strategies, which focuses on

helping financial companies with regulatory reporting

requirements.

The additions have helped boost Confluence's earnings. If

the company is sold for around $3 billion, this would be roughly

10 times the company's annual revenue, the sources said.