Vector Capital Announces Growth Equity Investment in CollabNet
Vector’s Control and Growth Equity Investments Aimed at Accelerating Market Adoption of CollabNet’s Market Leading Solutions
SAN FRANCISCO & BRISBANE, Calif., February 3, 2014-- Vector Capital, a technology focused private equity firm, today announced that it has acquired CollabNet, Inc. from existing venture investors and other shareholders. Concurrent with the buyout, Vector has also made a growth equity investment in the company, which will be used to accelerate product development, strengthen CollabNet’s sales and marketing efforts, and enable add-on acquisitions.
CollabNet, founded in 1999, is a leading provider of cloud-based application lifecycle management (ALM) solutions for agile software delivery at scale. It is the founder and principal sponsor of Subversion and a pioneer in cloud-based application development. Its loyal customer base includes both large enterprises such as Capgemini, Intel, Ameritas, Pfizer, Deutsche Post, and Applied Biosystems as well as development teams at organizations of all sizes. The company’s platform allows software developers, product managers, and IT operations professionals to collaborate and coordinate their efforts throughout the rapidly accelerating and constantly evolving software development and operations (DevOps) process.
Rob Amen, a Managing Director at Vector Capital who will join CollabNet’s Board of Directors, commented, “CollabNet is a clear leader in the application lifecycle management space with the only truly open platform on the market. This management team practically invented the open source version control market with Subversion, and it is that spirit of innovation and product quality that we are investing behind today.”
CollabNet has been recognized for 10 consecutive years as a SD Times 100 industry innovator and is positioned in the Leaders Quadrant of the 2013 “Magic Quadrant for Application Development Life Cycle Management” (ADLM) report by Gartner®, Inc. CollabNet is also positioned as a Leader in the Forrester Wave™ report on “Application Life Cycle Management Tools.”
CollabNet CEO Bill Portelli said, “Throughout our existence, CollabNet has had a string of first class investors that have supported us through our various phases of growth. I want to thank the host of top tier VC’s who were part of building CollabNet into a market leading company. Going forward, picking the right partner at the right stage of our company’s growth was critical to a continued upward growth trajectory. We are thrilled to be partnered with Vector as we look to take CollabNet to this next level of scale and growth.”
CollabNet® is the creator of Subversion® and a pioneer in cloud-based Application Lifecycle Management (ALM) solutions for collaborative agile software delivery at scale. CollabNet provides industry-leading products plus agile consulting and training services to help organizations of all sizes develop and deploy software faster. CollabNet’s flagship product, TeamForge®, provides customers with an open and extensible collaborative software development and delivery platform to increase collaboration and application release efficiency across larger, distributed teams. TeamForge users also gain better governance with enhanced visibility and traceability across the software development lifecycle. For small teams, CollabNet provides CloudForge®, a cloud-hosted version of Subversion, Git and TeamForge, that enables fast project starts on-demand. For more information, please visit www.collab.net.
About Vector Capital
Vector Capital is a leading global private equity firm specializing in transformational investments in established technology businesses. Vector identifies and pursues these complex investments in both the private and public markets. Vector actively partners with management teams to devise and execute new financial and business strategies that materially improve the competitive standing of these businesses and enhance their value for employees, customers, and shareholders. Among Vector's notable investments are Cambium Networks, Certara, Corel, LANDesk Software, Niku, Gerber Scientific, RAE Systems, Register.com, SafeNet, Technicolor, Teletrac, Tidel, WatchGuard Technologies, and WinZip.
Aryn Yancher, 415-293-5029
Venture Capital Database