TPG Closes on CollabNet
October 10, 2019
Capital, the private equity platform of global alternative asset firm
TPG, has finalized its acquisition of CollabNet VersionOne, a platform
provider for Agile planning, DevOps, and Value Stream Management (VSM).
Together with TPG, CollabNet is poised to meet the needs of large
enterprises that require end-to-end software infrastructure to connect
Agile and DevOps teams and activities to business value, and speed
application delivery to improve bottom-line results.
“Software agility that drives tangible, measurable value is vital for
every business today,” said Flint Brenton, CEO of CollabNet. “Having the
resources and support of TPG will accelerate our ability to meet the
unique needs of larger organizations that are frustrated with disparate
tools and processes that hinder business transformation. Our customers,
partners and employees are responding positively to our new partnership
with TPG, as the firm continues to help us drive growth and innovation.”
Through its investment, TPG Capital will commit up to $500 million of
equity capital to build CollabNet into a leader for enterprise-focused
Agile, DevOps and Value Stream Management success. TPG Capital and
CollabNet management are mapping strategy and execution plans to
accelerate the growth of the company’s existing portfolio. The company
also plans to aggressively pursue acquisitions in strategic adjacencies
that complement Agile planning and delivery, as well as testing, release
management, and the emerging market for VSM.
“The software delivery and DevOps industry is growing and consolidating
quickly. The acquisition of CollabNet provides a great opportunity for
TPG to build a world-class company that meets the growing needs of
larger enterprises in this area,” said Nehal Raj and Art Heidrich of TPG.
“We look forward to making investments that help CollabNet accelerate
organic growth, while also pursuing a targeted M&A strategy that
positions CollabNet as a broader DevOps platform for enterprise
a recognized leader in enterprise Agile planning and VSM by leading
analyst firms Gartner and Forrester, focuses on enabling enterprises to
develop and deliver high-quality software that drives business outcomes.
CollabNet’s Value Stream Infrastructure includes VersionOne for
enterprise Agile planning and management, VS for connected workflows and
visibility throughout the entire delivery value stream, and TeamForge
for enterprise-scale source code management and application lifecycle
management. CollabNet also recently introduced Ossum, a SaaS DevOps
offering that integrates and streamlines software development from idea
Barclays and RBC Capital Markets acted as financial advisors to TPG and
Ropes & Gray LLP served as legal counsel. KeyBank Capital Markets, Inc.
served as financial advisor to CollabNet and Sidley Austin LLP served as
legal counsel to CollabNet and Vector Capital.