US-based software developer, Compuware Corp yesterday said that it has acquired privately held application performance monitoring provider dynaTrace software Inc. for $256 million in cash.
Founded in 2005 in Linz, Austria in 2005, dynaTrace has emerged as the new technology leader in application performance management (APM) solution. It now has hundreds of customers and tens of -thousands of users around the world including companies such as BBVA, Thomson Reuters, Zappos, SAS, Macy's, ComScore, Ebsco, Sony and Linkedin.
Headquartered in suburban Boston, dynaTrace employs 180 people around the world. Nearly all of these employees, including the leadership team, are expected to remain with Compuware.
Its investors are Bain Capital Ventures is the Boston-based venture capital arm of Bain Capital, whose affiliates manage over $50 billion of assets and Bay Partners, a Silicon Valley-based early stage venture capital firm focusing on software, consumer Internet, semiconductor and wireless investments.
Detroit, Michigan-based Compuware provides software and Web performance solutions, professional services, and application services. It has 7,100 customers around the globe including 46 of the top 50 Fortune 500 companies and 12 of the 20 most visited US web sites.
''Organisations today depend on the rapid development and delivery of high-performing applications to drive revenues, customer satisfaction and brand,'' said Compuware CEO Bob Paul. ''To meet these demands effectively, IT organisations must have visibility into the performance of every transaction, from development, through test and in production. Together, Compuware and dynaTrace APM solutions allow IT to meet business demands for performance and agility through unbeatable insight into the user experience – whether in cloud, complex or traditional environments.''
''The APM market is undergoing a transformation; old tools simply can't meet the competitive requirements of modern applications,'' said John Van Siclen, CEO of dynaTrace software. ''Compuware sees the same market shift and is committed to building next-generation APM solutions that bring customers greater value, with less effort, faster than ever before. We're excited to be a part of the Compuware team, which will allow us to meet and increase the skyrocketing demand for dynaTrace solutions.''