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Company News : SmartBear Announces Acquisition by Francisco Partners
on 2017/5/4 7:54:32 (453 reads)
Company News

SmartBear Software has announced that Francisco Partners, a leading global technology-focused private equity firm, has acquired a majority stake in the company designed to support the company’s accelerated growth. Terms of the transaction were not announced.

SmartBear is highly profitable and has been growing at double digit rates for more than five years. The investment by Francisco Partners will help support the company’s growth which has been fueled by the demand for solutions to manage the application lifecycle and the rapidly expanding API economy. Francisco Partners has a strong track record of successfully accelerating growth in technology companies by providing M&A expertise, market guidance and capital.

With software permeating all sectors of the economy, the need for easy-to-use tools to help developers build and test new applications continues to grow. The interconnectedness of these applications through APIs is also forcing businesses of all kinds to re-think how they interact with and best serve their customers. In addition, the ever expanding combinations of applications and devices are making software quality even more complex.

SmartBear is integral in helping software developers and testers create the highest quality software applications with products, including TestComplete, QAComplete, Collaborator, AlertSite and CrossBrowserTesting. SmartBear’s portfolio of products also includes some of the largest open source and commercial products for API design and testing, including SoapUI and Swagger. There is a new trial of a SmartBear product every four seconds.

The acquisition by Francisco Partners marks a transition in lead investors from SmartBear’s original 2007 investor, Insight Venture Partners. During Insight’s period of investment, the company grew from a single product company for U/I testing into an industry leader in software quality tools for teams with multiple product lines and over 20,000 customers. 

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