Private equity platform TPG Capital signed a definitive agreement to acquire CollabNet VersionOne, moving forward with its broader strategy to build a “leading, integrated, enterprise-focused DevOps platform company.” The terms of the acquisition were not disclosed.
According to a statement, TPG Capital and CollabNet will work to aggressively pursue acquisitions in strategic adjacencies that complement Agile planning and delivery, as well as testing, release management, and the emerging market for value stream management.
“As large companies across industries continue to prioritize in-house software development and digital transformation initiatives, we see a compelling opportunity to build an integrated DevOps company focused on larger enterprises,” said Nehal Raj and Art Heidrich of TPG. “CollabNet’s strong product footprint and commitment to enterprise customers make the company the right starting point from which to build and consolidate.”
CollabNet’s current core offerings include 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. It also includes the recently released Ossum, a SaaS DevOps offering that integrates and streamlines software development from idea to release.
According to Forrester, value stream management is an emerging market and found that there are no overall leaders in the market space.
“Vendors with a vision of empowering teams with analytics informed by real-world data and flexible planning schemes beat out those that focus on incremental enhancements within their traditional domains,” Forrester wrote in its Value Stream Management Tools report last year.