Following on the heels of TPG Capital’s acquisition of CollabNet VersionOne last September, the investment company has announced that CollabNet VersionOne would be merging with XebiaLabs. Together the two companies will work to create an integrated Agile DevOps platform.
When TPG Capital first announced it was acquiring CollabNet VersionOne, it had stated that its main strategy was to build a “leading, integrated, enterprise-focused DevOps platform company.” This merger marks a major step towards that goal, XebiaLabs stated.
The merger will combine CollabNet VersionOne’s upstream and Agile planning and version control capabilities with XebiaLabs’ downstream release orchestration and deployment automation functionality, the companies explained.
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Ashok Reddy, previously a senior vice president at Broadcom, will join the company and serve as CEO. “We are on a mission to fundamentally transform how enterprise software development and delivery is done,” said Reddy. “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.”
CollabNet VersionOne’s current CEO Flint Brenton will step aside to focus on family, while XebiaLabs’ current CEO will serve as president of the new company. In addition, XebiaLabs’ EVP and CFO will become the CFO of the new company.
“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,” said Nehal Raj and Art Heidrich of TPG Capital. “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.”
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