MINNEAPOLIS, MN and SANTA MONICA, CA – January 22, 2019 — Perforce Software (“Perforce”), a global provider of enterprise-grade DevOps-focused software solutions, backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”), today announced it has reached a definitive agreement to acquire Rogue Wave Software (“Rogue Wave”), a leading independent provider of cross-platform software developer tools and embedded components.
The combination of Perforce and Rogue Wave delivers a full suite of solutions that measurably improves developer productivity while fueling DevOps at scale. This is the sixth acquisition by Perforce in the last two years since embarking on an aggressive growth strategy to expand its portfolio across the technology development lifecycle. Terms are not being disclosed. The acquisition is expected to close in early February of this year.
Rogue Wave provides market-leading solutions that help enterprises optimize software development and build, connect, and secure applications while reducing risk. The company is a leading provider for enterprise organizations and has relationships with more than 5,600 customers across industries including financial services, technology, healthcare, government, entertainment, and manufacturing. Rogue Wave is based in Louisville, Colorado and has 16 offices throughout the world.
“This transformational acquisition further expands our global footprint and broadens our offerings. Rogue Wave’s software suite strengthens Perforce’s existing static code analysis and automated test offerings, and also adds new capabilities in the areas of dynamic code analysis, API management, project visualization, developer productivity, and embedded analytics,” said Mark Ties, Perforce CEO. “Together with Rogue Wave, Perforce will continue to drive value for enterprises that value scalability, speed, and security.”
Perforce continues to build out its DevOps-focused software portfolio that uniquely meets the needs of technology development teams that are challenged with multiple dimensions of scale but still must deliver products securely at a rapid pace.
“The momentum at both Perforce and Rogue Wave is impressive and we look forward to capitalizing on the significant market trends around enterprise DevOps at scale,” added Prashant Mehrotra and Paul Huber of Clearlake. “We are excited to continue to support Mark and the collective management team as they drive consolidation in the industry and increase the breadth of their platform, both organically and inorganically.”
"Software development is growing increasingly complex, driving the need for platforms and solutions that can help enterprises simplify their applications and shorten cycle times. With continuously evolving customer demands, it has never been more important for enterprises to deliver high-quality products and solutions quickly. Rogue Wave is a software platform of choice for enterprise clients that value stability and security," said Brian Pierce, Rogue Wave CEO. “Our team and technology are a great fit with Perforce and we look forward to providing our combined customer base with solutions for more of their DevOps needs.”
Financing for the acquisition was led by Antares Capital with joint lead arrangers Ares Capital Management, AB Private Credit Investors, Barings Finance, PennantPark Investment Advisers, and Varagon Capital Partners. William Blair and Shea & Company acted as financial advisors to Rogue Wave.