Clearlake-backed Perforce to buy Perfecto Mobile


Perforce Software, a portfolio company of Clearlake Capital Group LP, agreed to buy Perfecto Mobile. Financial terms weren’t announced. Perfecto, of Israel, provides cloud-based automated mobile and web application test software solutions. Press reports peg the deal at $200 million.

PRESS RELEASE

MINNEAPOLIS, MN and SANTA MONICA, CA – October 8, 2018 Perforce Software (“Perforce”), a global provider of enterprise-grade DevOps-focused software solutions, backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”), today announced it has reached a definitive agreement to acquire Perfecto Mobile (“Perfecto”), a market leader in cloud-based automated mobile and web application test software solutions. The acquisition augments Perforce’s software portfolio with additional capabilities for enterprise DevOps teams to achieve continuous testing at scale across web, mobile and IoT applications. The acquisition is expected to close this year.

 

Perfecto is the industry pioneer delivering the only true enterprise-grade mobile & web automation testing software platform through its globally accessible Continuous Quality Lab. The company is the go-to provider for large organizations that need to accelerate their digital transformation and provide their customers with the best online mobile and web experiences. Leading enterprises in banking, retail, telecommunications, and insurance rely on Perfecto’s robust automated testing software to deliver quality experiences faster and retain users in highly competitive markets.

 

“Enterprises continue to need more automation to both scale and accelerate their application delivery,” said Mark Ties, Perforce CEO. “Perfecto adds a critical component to our DevOps capabilities allowing Perforce to deliver more value for large enterprise customers that value scalability and security.”

 

Perforce continues to add capabilities to its software portfolio that uniquely meet the needs of technology development teams that are challenged with multiple dimensions of scale but still must deliver products at a rapid pace. The acquisition of Perfecto will represent Perforce’s fifth acquisition in the past two years.

 

“With this strategic acquisition, Perforce is well positioned to capitalize on the significant market trends around demand for continuous testing from enterprise DevOps teams,” added Prashant Mehrotra and Paul Huber of Clearlake. “We are excited to continue our support of Mark and the Perforce management team as they drive consolidation in the industry and accelerate organic growth.”

 

“Perfecto is the mobile and web testing software platform of choice for enterprise clients. The digital transformation is driving accelerated adoption of DevOps and its activities such as continuous integration, test automation and continuous delivery to more quickly capture and engage customers online. Our Continuous Quality Lab enables enterprises to remove bottlenecks and rapidly validate and deliver mobile and web applications that engage their customers,” said Eran Yaniv, Perfecto Co-Founder and CEO. “We are thrilled to join the Perforce team and are confident that this partnership provides us increased resources to capitalize on the continuous testing market opportunity.”

About Perforce

Perforce is a leading provider of enterprise scale software solutions to technology developers and development operations (“DevOps”) teams requiring productivity, visibility and scale during all phases of the development lifecycle. Enterprises across the globe rely on its agile planning and ALM tools, developer collaboration, static code analysis, version control and repository management solutions as the foundation for successful DevOps at scale. Perforce is trusted by the world’s most innovative brands, including NVIDIA, Pixar, Scania, Ubisoft, and VMware. For more information, please visit www.perforce.com.

 

About Perfecto

Perfecto is the leader in continuous testing and monitoring for today’s dynamic DevOps environments. Our Continuous Quality Lab enables DevOps teams to accelerate development, achieve continuous testing and monitoring, and drive fast feedback through actionable analytics for web, mobile, and IoT applications. More than 3,000 customers rely on our cloud-based Continuous Quality Lab as their digital application test environment and for authoring test automation executed on real browsers, smartphones, and devices under real end-user conditions. For more information about Perfecto, visit perfecto.io.

 

About Clearlake Capital

Clearlake Capital Group, L.P. is a leading private investment firm founded in 2006. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are software and technology-enabled services; industrials and energy; and consumer. Clearlake has managed over $8 billion of institutional capital since inception and its senior investment principals have led or co-led over 100 investments. More information is available at www.clearlake.com.

 

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