Candescent Partners, a Boston-based private equity firm, has acquired SoftBase, a provider of DB2 z/OS coding, testing and deployment tools that accelerate application development.
Candescent led the transaction with co-investors Harbert Mezzanine Capital, Bush O’Donnell Capital Partners, and Brooke Private Equity Associates. SoftBase is Candescent’s fourth platform acquisition and second in the software sector.
SoftBase Systems is recognised as a leading provider of application testing and tuning solutions for IBM’s DB2(R) database utilising the OS/390(R) and z/OS(R) operating systems. SoftBase’s solutions enable its customers to build and maintain high-quality DB2 applications that run as reliably and cost-effectively as possible. As part of the acquisition, Candescent also acquires NetLert, a separate software company operated under SoftBase that specialises in performance analysis and reporting solutions for Avaya-based contact centres. SoftBase and NetLert have been merged into one company, Candescent SoftBase LLC, and each will operate as separate divisions.
"This transaction represents a significant opportunity for both Candescent and SoftBase," says Stephen Jenks (pictured), managing partner of Candescent Partners. "We have the opportunity to provide the resources needed to offer a broader range of products and services resources to further propel market growth for SoftBase. We look forward to supporting its continued product innovation and customer-centric vision as it moves to the next stage of growth."
