• Combined Company announces new CEO to drive next phase of growth
• Transaction, backed by TPG Capital, marks a transformational step in a broader strategy to create a leading, integrated Agile DevOps platform for enterprises
Contacts
Media
Olivia Heel, Catapult PR-IR
oheel@catapultpr-ir.com
303-581-7760
Hannah Inman
press@xebialabs.com
TPG
Luke Barrett and Courtney Power
media@tpg.com
• Transaction, backed by TPG Capital, marks a transformational step in a broader strategy to create a leading, integrated Agile DevOps platform for enterprises
ATLANTA & BOSTON-Thursday 23 January 2020 [ AETOS Wire ]
(BUSINESS WIRE)--
CollabNet VersionOne (CollabNet), a leading provider for Agile planning
and collaborative development, and XebiaLabs, the leader in release
orchestration, deployment, and continuous delivery, announced today that
the two companies have merged. The combination, which was backed by TPG
Capital, unites CollabNet’s upstream Agile planning and enterprise
version control functionality with XebiaLabs’ downstream release
orchestration and deployment automation capabilities to create an Agile,
end-to-end, DevOps platform for enterprises.
In
connection with the transaction, Ashok Reddy, an accomplished industry
veteran and former Broadcom executive, has joined the combined company
as CEO. He replaces Flint Brenton, who is stepping aside to focus on
family and personal interests after nearly five years of successful
stewardship. Derek Langone, current CEO of XebiaLabs, will serve as
President of the combined company. Stephen Gregorio, EVP and CFO of
XebiaLabs, will serve as the combined company’s CFO.
“The
combination of CollabNet and XebiaLabs will provide enterprise
customers with the end-to-end visibility and management capabilities
needed to develop software quickly, reliably, and securely, ultimately
helping accelerate their digital transformation and drive business
outcomes,” said Nehal Raj and Art Heidrich of TPG Capital. “We
congratulate Flint on a successful tenure, and look forward to
partnering with Ashok, Derek, and the broader team to further accelerate
our strategy to create a leading enterprise DevOps platform company.”
Founded
in 2008, XebiaLabs is a high-growth provider of release management and
automation developer tools. The company provides release orchestration
and application delivery software that enables enterprises to
orchestrate, automate, and analyze the entire software release pipeline
at enterprise scale. XebiaLabs’ downstream capabilities complement
CollabNet’s upstream product portfolio, which 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 version control management and application
lifecycle management. Both companies’ platforms and tools are recognized
by analysts as industry-leading offerings that drive innovation into
the market.
“We
are on a mission to fundamentally transform how enterprise software
development and delivery is done,” said Reddy. “The combination of
CollabNet and XebiaLabs will provide a platform that enables digital
transformation at scale with Agile and DevOps processes to continuously
adapt, learn, and improve, especially in a world of AI-driven
intelligent apps and experiences. I am thrilled to be joining at this
critical juncture and look forward to working with the entire team to
lead the combined company through its next chapter of growth.”
“XebiaLabs
has established itself as the standard for DevOps in large enterprises.
Counting among our clients the world’s largest financial, healthcare,
and manufacturing companies, our focus has been on creating a platform
that takes advantage of existing tooling and processes while providing
the scale, standardization, security, and reporting that large companies
require,” said Langone. “I am thankful for what we have been able to
achieve with the support of Susquehanna Growth Equity and Accel. By
combining XebiaLabs and CollabNet, our mutual clients will now benefit
from the most capable Agile DevOps platform available in the market.
This is a game changer for businesses that need to maximize their
software application assets while navigating complex regulatory,
compliance, and security requirements.”
Most
recently, Reddy led Broadcom’s multibillion-dollar Enterprise Software
Division, where he helped create a platform for global enterprises to
scale their digital transformations and become real-time digital
businesses. With a career spanning more than 25 years in enterprise
software and deep experience in Agile and DevOps transformation, Reddy
has held leadership positions at several Fortune 500 companies including
IBM, CA Technologies, Rational Software, Honeywell, and Novartis. Reddy
will work closely with Langone and Gregorio, both experienced software
executives, to lead the combined company.
“I
thank my colleagues at CollabNet for the success created by their hard
work and dedication,” said Brenton. “While I am proud of all we have
built together, I have decided it is the right time for me to return to
California and begin the next chapter of my life. CollabNet and
XebiaLabs are in strong and capable hands with Ashok, Derek, and TPG
Capital, and I am confident that under their leadership, the combined
company will achieve even greater success and scale.”
Barclays,
Evercore, and KeyBanc served as financial advisors to TPG Capital and
CollabNet, and Ropes & Gray LLP served as legal counsel. Shea &
Company served as financial advisor to XebiaLabs, and Weil, Gotshal
& Manges LLP served as legal counsel. XebiaLabs’ existing
shareholders, Susquehanna Growth Equity and Accel, have sold their
respective stakes in the company as part of the combination. Additional
terms of the transaction were not disclosed.
About CollabNet VersionOne
CollabNet
VersionOne is a leading platform provider for Value Stream Management,
Agile planning, DevOps and source code management. Its offerings provide
global enterprise and government industry leaders a cohesive solution
that enables them to ideate, create and orchestrate the flow of value
through continuous delivery pipelines with measurable business outcomes.
To learn more visit: www.collab.net
About XebiaLabs
XebiaLabs'
mission is to help large companies accelerate their software releases
with more reliability - no matter how diverse the infrastructure or
complex the processes. The XebiaLabs DevOps Platform is the industry's
only end-to-end DevOps toolchain orchestration and reporting solution,
providing the automation, control, and visibility enterprises need to
deliver software faster and with less risk. With the XebiaLabs DevOps
Platform, organizations can connect all their DevOps tools, manage their
interactions, deploy to any environment, and create a data hub for
reporting, without ad-hoc scripting and endless maintenance. For more
information, please visit www.xebialabs.com.
About TPG
TPG
is a leading global alternative asset firm founded in 1992 with more
than $119 billion of assets under management and offices in Austin,
Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London,
Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul,
and Singapore. TPG's investment platforms are across a wide range of
asset classes, including private equity, growth equity, real estate,
credit, and public equity. TPG aims to build dynamic products and
options for its investors while also instituting discipline and
operational excellence across the investment strategy and performance of
its portfolio. For more information, visit www.tpg.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20200121006172/en/
Contacts
Media
Olivia Heel, Catapult PR-IR
oheel@catapultpr-ir.com
303-581-7760
Hannah Inman
press@xebialabs.com
TPG
Luke Barrett and Courtney Power
media@tpg.com
