HGGC, a private equity firm, announced that it has reached a definitive agreement to acquire Serena Software, a provider of application delivery management solutions. HGGC is partnering with Serena Software’s founder, Doug Troxel, as part of the agreement. HGGC and Troxel are acquiring Serena Software from Silver Lake Partners. The current Serena executive team will continue to manage the company, HGGC said.
“The acquisition of Serena is consistent with our strategy of investing in technology companies that are clear leaders with significant revenue streams and exceptional customers,” said Rich Lawson, HGGC’s CEO and managing partner and designated chairman for the new Serena. “Serena is well positioned to lead new markets at the intersection of application development and IT operations to help the world’s most important brands speed the delivery of new software capabilities to their customers.”
Over the last 12 months, Serena has shipped a range of products, including Serena Release Manager, Serena Business Manager (SBM), Serena Service Manager, Dimensions CM and ChangeMan ZMF.
More information is available on the company’s website at www.serena.com.
More information on HGGC is available at www.hggc.com.