HGGS acquires Serena

Here is some news to start your Monday morning with a bang! (or not!). I just received this e-mail from Serena (the company that owns PVCS):

Serena
Dear Serena Customer,

I am pleased to announce that Serena has entered into a definitive agreement to transition the ownership of the company to a partnership of HGGC and Serena founder Doug Troxel. HGGC is a California-based private equity firm that focuses on investing in mid-market technology companies with strong technology, revenue and customers. They have an outstanding record of helping businesses reach their full growth potential.

Doug Troxel will continue as a board member and HGGC’s CEO and co-founder Rich Lawson will join as Chairman. I am excited to continue to work with Doug and to welcome the smart and successful partners from HGGC into the Serena family. My management team and the Serena employees you know today will continue with the company.

This is an important announcement for you as it is reaffirms Serena’s strategy of developing and delivering market leading solutions that increase the value of IT to the business. We will continue to deliver innovation on our core products and invest in the emerging DevOps and release management market. We will continue to offer the world-class customer support to which you’ve become accustomed. And, we will continue to put you, our customer, at the center of everything we do.

The transaction is subject to regulatory approvals and customary closing conditions, so I don’t have any financial details to share with you now. However, should you have any questions about this exciting change or about Serena’s strategy, please contact your Serena account manager or reply directly to me at ghughes@serena.com.

Thank you for your business as a Serena customer. I look forward to our continued progress together.

Greg HughesSincerely,

Greg Hughes
President & CEO
Serena Software

P.S. Here are some links that for further information:

  1. Read more about private equity firm HGGC
  2. Read today’s press release from Serena
  3. Subscribe to Serena’s monthly xPress newsletter to stay up to date

Here is a news article about the acquisition:
http://dealbook.nytimes.com/2014/03/10/hggc-to-buy-serena-software-from-silver-lake/?_php=true&_type=blogs&_r=0

It probably does not change anything for us, but it is interesting to note that what we dearly know as “Merant PVCS”, here at work, will now be a product owned by HGGC. Serena had already renamed it as Serena Version Manager as of version 8.5. Interestingly, the company that owned PVCS recently was Silver Lake partners (which acquired Serena!). May be the “Serena” name will stay!

And the product did change hands so many times before! See here:
http://en.wikipedia.org/wiki/PVCS

With HGGC in the picture, you can not only check out files, but probably get some groceries at check out too :). (HGGC owns MywebGrocer.com also). Check it out:
http://en.wikipedia.org/wiki/HGGC

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