TGP acquired CollabNet

TPG Bought CollabNet to Venture into Software Market

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The new investment will consolidate the market position of TPG

TPG Capital has acquired dev-ops company CollabNet VersionOne from Vector Capital which is also a private equity company. The new acquisition will help TPG to venture into the software industry.

TPG did not reveal the exact financial terms of the deal, but the company will take control of the majority of the stakes. The company will invest around 500 million dollars in the new addition to make it a top-notch company that will serve the software need of the enterprises.

Nehal Raj one of the partners in TPG said, “We are a strong believer that over the next 10 plus years, through digital transformation, what were historically non-tech companies are all going to become software companies in some shape for form. Everyone needs to do that in order to be competitive, and these companies need software that enables them to write and manage code in a more modern way.”

Right now the software market is highly disintegrated and the firms serving have to deal with countless clients with different software needs. The research work is in place to find new avenues that can propel the industry.

The objective is to make avail all the software solutions at one place

To meet the objectives in the future TPG had decided to push half a billion dollars in the CollabNet and change it to provide for all the software solutions which will include software development initiatives and the end to end platform. This will help the company to avail all the different types of software in one place.

To grow substantially TPG has to acquire some other software firms also. The 14 billion dollars deal in the acquisition of CollabNet provides ample opportunity to design and implement dev-ops objectives. CollabNet will able to scale up and reach the broader market as its CEO Flint Brenton described the new partnership as a very successful one.

Brenton also said, “he’s been looking for the right partner for some time to help grow the 20-year-old company beyond its current scope of 1,200 enterprise customers located mostly in the US and Europe.”



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