CollabNet and XebiaLabs merge to create integrated platform
CollabNet VersionOne and XebiaLabs have combined to create an integrated Agile DevOps platform, according to an announcement by the companies.
CollabNet is a provider for Agile planning and collaborative development, while XebiaLabs specialises in release orchestration, deployment, and continuous delivery.
The merger, which was backed by TPG Capital, unites CollabNets upstream Agile planning and enterprise version control functionality with XebiaLabs downstream release orchestration and deployment automation capabilities.
In connection with the transaction, Ashok Reddy, an 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 leading the company, according to a statement.
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.
Founded in 2008, XebiaLabs provides release management and automation developer tools. The company focuses on release orchestration and application delivery software that enables enterprises to orchestrate, automate, and analyse the entire software release pipeline at enterprise scale.
XebiaLabs downstream capabilities complement CollabNets 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, according to a statement.
Reddy says, “We are on a mission to fundamentally transform how enterprise software development and delivery is done.
“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.
Langone says, “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, standardisation, security, and reporting that large companies require.
“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 maximise their software application assets while navigating complex regulatory, compliance, and security requirements," says Langone.
TPG Capital partners Nehal Raj and Art Heidrich says, “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."
“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," they say.
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.
His career spans more than 25 years in enterprise software with experience in Agile and DevOps transformation. He has held leadership positions at 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.
Brenton says, “I thank my colleagues at CollabNet for the success created by their hard work and dedication. 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.