Leading investment firm acquires software company Perforce

Clearlake Capital Group has announced that it has acquired Perforce Software, the Minnesota-based provider of enterprise scale software solutions used by technology developers and DevOps teams, from growth equity investor Summit Partners. Perforce has 3,000 customers worldwide, including insurance group XL Capital and exchange group NYSE Euronext, and offers developer collaboration and agile project management tools to accelerate delivery cycles. The company will continue to be led by Janet Dryer, CEO, and Mark Ties, COO, who will both join the Board of Directors alongside Clearlake. “This announcement represents another major milestone in our transformation of Perforce,” said Dryer. “Two years ago, we began this journey, and since then we have completed three acquisitions, returned the company to growth, and created a robust portfolio of DevOps-focused solutions adopted by the largest and most demanding enterprise development teams in the world.” “We expect Clearlake’s deep software experience and their proven ability to help companies grow will provide invaluable support as we continue to broaden our DevOps solutions, expand internationally, and pursue our acquisition strategy,” added Ties. Paul Huber of Clearlake explained: “High performance, enterprise scale software development teams are faced with stringent security and compliance requirements in addition to increasing complexity, with today’s continuous delivery environments. We believe Perforce’s technology and its proven security, performance, and scale uniquely position the company to address these market trends and accelerate its growth trajectory.” Financial terms of the transaction were not disclosed.