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TPG Closes on CollabNet VersionOne Acquisition
Wednesday 09 October 2019

9 October 2019 - US-based TPG Capital, the private equity platform of global alternative asset firm TPG, has finalised its acquisition of CollabNet VersionOne, a leading platform provider for Agile planning, DevOps, and Value Stream Management, the firm said.

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.

Through its investment, TPG Capital will commit up to USD 500m 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.

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 and 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.
Details
Date Published: 09/10/2019
Target: CollabNet VersionOne
Country: USA
Deal Size: 500m (USD)
Sector: IT/Online Services
Type: LBO
Financing:
Status: Closed
Vendor:
Buyer: TPG Capital
Buyer Advisor: Barclays , RBC Capital Markets , Ropes and Gray
Comment:
Terms of the deal were not disclosed

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