Vector Capital makes growth equity investment in CollabNet
Vector Capital, a technology focused private equity firm, has acquired CollabNet 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 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 customer base includes both large enterprises such as Capgemini, Intel, Ameritas, Pfizer, Deutsche Post, and Applied Biosystems as well as development teams at organisations of all sizes.
Rob Amen, a managing director at Vector Capital who will join CollabNet’s board of directors, says: “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 chief executive Bill Portelli says: “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.”
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