Perforce Software, a provider of enterprise solutions aimed at boosting productivity, visibility, and scalability across the development lifecycle, has announced a definitive agreement to acquire Delphix, a company known for its industry-leading Data Management software platform. Both Perforce and Delphix are backed by equity firms, Francisco Partners and Clearlake Capital Group.
The financial terms of the transaction were not disclosed, but the addition of Delphix to Perforce’s portfolio aims to enhance data management capabilities, further automating and accelerating the DevOps pipeline. This move comes at a time when many enterprise organizations are placing greater emphasis on the value of data as a critical asset, with a particular focus on harnessing, mining, and analyzing data to make informed decisions and gain competitive advantages.
Delphix’s focus on supporting customers in scaling data usage for analytics and testing, while significantly speeding up application releases, offers a valuable addition to Perforce’s offerings. The company’s expertise in data virtualization and data masking allows organizations to easily manage private and public cloud-based data environments, thereby improving application delivery pipelines.
Jim Cassens, CEO of Perforce, expressed enthusiasm about the acquisition, emphasizing that the addition of Delphix will enable Perforce to provide customers with operational efficiencies, reduced costs, and innovative data management solutions. With a strong emphasis on data automation and compliance, Delphix’s platform is expected to lower storage expenditures and footprint.
In response to the acquisition announcement, Delphix CEO Jedidiah Yueh expressed excitement about the strategic positioning of the company within Perforce. He highlighted the potential for continued innovation and the ability to help even more customers realize the strategic power of Delphix’s data platform.
The acquisition is aligned with Perforce’s commitment to providing customers with scaled DevOps solutions that address the automation challenges faced by the world’s largest enterprises. According to Evan Daar, Partner at Francisco Partners, and Sean Courtney, Senior Vice President at Clearlake, the acquisition stands to capitalize on the growing demand for enterprise-scale data management in testing, AI modeling, and analytics.
With the acquisition subject to customary closing conditions, its completion is expected in the second quarter of 2024. Centerview Partners served as Delphix’s exclusive financial adviser in connection with the transaction.
Delphix, as a leading vendor of test data management software, enables companies to automate data security measures, deploy test data to developers rapidly, and shorten application development cycles. The company boasts a strong track record, having transformed the application development processes of more than 30% of Fortune 100 companies.
Perforce, backed by Clearlake and Francisco Partners, is focused on driving innovation at scale. With a global presence spanning over 80 countries and a significant customer base, the company aims to deliver robust solutions that address the challenges faced by its customers.
Francisco Partners, an investment firm with a specialization in technology and technology-enabled businesses, has a longstanding history of investing in and partnering with technology companies. With a focus on providing deep sectoral knowledge and operational expertise to help companies realize their full potential, Francisco Partners has made significant contributions to the technology industry.
Similarly, Clearlake Capital Group, L.P., an investment firm operating integrated businesses across private equity, credit, and related strategies, has a sector-focused approach, aiming to partner with management teams by providing patient, long-term capital. With over $75 billion of assets under management, Clearlake’s investment principals have led or co-led over 400 investments, solidifying its place in the investment landscape.
As the acquisition moves forward, both Perforce and Delphix are poised to leverage their combined capabilities to drive innovation, address industry challenges, and deliver value to their customers.