Datadog announced an integration with Nessus from Tenable.
TPG Capital, the private equity platform of global alternative asset firm TPG, finalized its acquisition of CollabNet VersionOne.
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 customers."
CollabNet 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 to release.
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.