DEVOPSdigest

Perforce Software closed on the significant new equity investment from Francisco Partners, a global technology-focused private equity fund.

The firm joins Clearlake Capital Group, which initially invested in Perforce in late 2017. The Company will continue to be led by the Chief Executive Officer, Mark Ties, and the current management team, who invested alongside Clearlake and Francisco Partners in the transaction.

Clearlake and Francisco Partners both possess deep infrastructure software experience and will leverage their collective knowledge and resources to help expand Perforce's market share and continue to drive its growth strategy.

"With this investment from Francisco Partners, Perforce has gained additional resources to continue our proven buy-and-build strategy and further support our strong relationships with our customers," said Mark Ties, Perforce CEO. "We are excited to continue to expand to new geographies and product adjacencies, becoming the vendor of choice for large, global enterprises looking to scale efficiently and effectively. Perforce is positioned to continue to gain market share as it continues to provide best-in-class solutions to its enterprise customers."

Brian Decker, Partner at Francisco Partners, said, "We are very impressed with Perforce's track record of accretive acquisitions and successful integrations, simultaneously entering new product adjacencies while continuously improving its go to market strategy to win new customers. The Company has grown significantly over the past few years and has established itself as a leader in innovation, functionality, and scalability for DevOps." Evan Daar, Principal at Francisco Partners, added, "As companies across all end markets increasingly transition to incorporate DevOps best practices, Perforce is well positioned to serve customer needs across the development lifecycle."

Prashant Mehrotra, Partner, and Paul Huber, VP at Clearlake, commented, "Since our investment, we have collaborated with Mark and his team to implement our O.P.S. framework to invest and sustainably grow the business. The team has further demonstrated their ability to accelerate organic and inorganic growth, and we are confident that with the combined support from Clearlake and Francisco Partners, Perforce will reach new heights. We are excited to partner with Francisco Partners as Perforce embarks on this next stage of growth."