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CollabNet-XebiaLabs unite to create enterprises' Agile DevOps platform

CollabNet-XebiaLabs unite to create enterprises' Agile DevOps platform

CollabNet VersionOne, a software firm based in Alpharetta, has announced a strategic merger with XebiaLabs, a leading provider of release orchestration and automation developer tools, under the support of TPG Capital. The tie-up aims to offer expertise customers with end-to-end Agile DevOps platform and fundamentally transform the process of software development and delivery by expertise.
Mr. Ashok Reddy (the former executive of Broadcom) has been appointed as CEO, Mr. Derek Langone (existing Chief Executive Officer of XebiaLabs) as the President, and Mr. Stephen Gregorio (CFO and EVP of XebiaLabs) as the CFO of the joint company, to create a leading DevOps company. Barclays, KeyBanc, and Evercore served as financial advisors while Ropes and Gray as the legal counsel in TPG Capital and CollabNet. On the other hand, Shea & Company served as financial advisor and Weil, Gotshal & Manges LLP as legal counsel of XebiaLabs. Further details regarding the transaction has not been disclosed.
Mr. Reddy stated that the merger between XebiaLabs and CollabNet will enable high-scale digital transformation with DevOps and Agile processes to learn, adapt, and improve in the world of AI apps and experiences.
According to President Langone, XebiaLabs has been developed as a standard for DevOps by making use of existing tooling and processes. It offers standardization, reporting, and security to large enterprises. Its client-base include healthcare, financial, and manufacturing companies.
Current shareholders of XebiaLabs namely Accel Partners and Susquehanna Growth Equity have sold their respective stakes as a support to the collaboration.
XebiaLabs's downstream capabilities (release orchestration and deployment automation) complement CollabNet's upstream product portfolio, which include VersionOne for enterprise Agile planning and management, VS for visibility and connected workflow throughout the entire delivery stream, as well as TeamForge for application lifecycle and expertise-scale version control management.
As stated by TPG Capital's Nehal Raj and Art Heidrich, the critical juncture can help accelerate digital transformation to bring about positive business outcomes and drive innovation in the market. It will also maximize software application assets while offering compliance, regulatory, and security requirements.
Source credit:
https://www.collab.net/news/press/collabnet-versionone-and-xebialabs-combine-create-integrated-agile-devops-platform

 

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