Perforce Software acquired by Clearlake Capital

Private equity firm anticipates minimal disruption to business, keeping current leadership in place.
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Private equity firm anticipates minimal disruption to business, keeping current leadership in place.

Popular collaboration platform Perforce has been acquired in its entirety by private equity firm Clearlake Capital. There’s no word on the amount that was paid, but considering the ubiquity of the platform, we imagine the purchase will have cost Clearlake a pretty penny. Perforce will continue in the capable hands of CEO Janet Dryer and COO Mark Ties, with the pair joining the board of directors with the new owners.

“Today’s 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 thank Summit Partners for this outstanding partnership, and we look forward to working with the Clearlake team as we accelerate into our next phase of growth.”

“The Perforce team should be proud that all their hard work helped attract this new investment, and we are excited to partner with Clearlake,” said Ties. “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.”

“We are impressed by the momentum at Perforce under Janet and Mark’s leadership, and we share their excitement that Perforce will serve as an excellent platform for growth, both organically and through acquisition,” said Behdad Eghbali, Co-Founder and Managing Partner, and Prashant Mehrotra, Partner, of Clearlake. “We look forward to leveraging our O.P.S. approach to support the management team and its many talented employees in continuing to provide best-in-class DevOps solutions to its global customer base.”

“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,” added Paul Huber of Clearlake. “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.”