Perforce to Acquire BlazeMeter Continuous Testing Platform From Broadcom

Rhea-AI Summary

Perforce Software has announced the acquisition of the BlazeMeter Continuous Testing (CT) platform from Broadcom Inc. (NASDAQ: AVGO). Financial details of the transaction remain undisclosed, but it aims to enhance Perforce's application quality offerings, which include the Perfecto platform and static application security testing products. This strategic acquisition is expected to boost Perforce's capabilities in DevOps testing, enabling faster and more reliable application quality solutions. The transaction is anticipated to close in October 2021, subject to regulatory approval.

Positive

• Acquisition enhances Perforce's application quality portfolio.
• Strengthens Perforce's position in the growing DevOps market.
• BlazeMeter CT provides comprehensive testing solutions, aiding digital transformation.

Negative

• None.

MINNEAPOLIS, Sept. 30, 2021 /PRNewswire/ -- Perforce Software ("Perforce"), a provider of solutions to enterprise teams requiring productivity, visibility, and scale along the development lifecycle, backed by Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake") and Francisco Partners, announced today that it has agreed to acquire the BlazeMeter Continuous Testing ("BlazeMeter CT") platform from Broadcom Inc. (NASDAQ: AVGO). Financial terms were not disclosed.

This acquisition builds on Perforce's growing application quality portfolio, comprised of the industry-standard web and mobile testing platform, Perfecto, and static application security testing products (Klocwork and QAC).

"The addition of BlazeMeter CT reinforces our focus on the application quality market," said Mark Ties, CEO and President, Perforce. "With Perfecto, our presence in SAST, and now BlazeMeter, Perforce can continue solving the most difficult quality challenges in DevOps for our global customer base. We look forward to working with the talented BlazeMeter team to increase the speed and accuracy of testing, so our customers can deliver innovation faster and with more confidence."

BlazeMeter CT is a complete, integrated, continuous testing platform built on and fully compatible with open source. Used by some of the largest global enterprises, BlazeMeter CT provides a single solution for application quality for all teams across the CI/CD pipeline. The SaaS-based platform is a Gartner Peer Insights Customers' Choice for Software Test Automation.

BlazeMeter CT is built on BlazeMeter, a preferred solution for load and performance testing, and includes additional, unified functionality including API testing and monitoring in a single unified platform which allows organizations to speed digital transformation, by shifting testing left, and right.

"We have long admired BlazeMeter CT and believe its developer-oriented and open-source SaaS platform sets it apart from other continuous testing providers," said Paul Huber, Principal at Clearlake, and Evan Daar, Principal at Francisco Partners, in a joint statement. "The addition of BlazeMeter CT further enhances the capabilities Perforce can offer to its valued customers and we look forward to leveraging this opportunity to drive accelerated growth for the platform."

"This is a great opportunity for BlazeMeter to join forces with Perforce, where it will benefit tremendously from the widespread community support and broad open-source development partner ecosystem that Perforce is known for," said Serge Lucio, vice president and general manager, Enterprise Software Division, Broadcom. "We are proud of the accomplishments this team has made in building this exceptional product and expect this transition to help BlazeMeter and its customers flourish and grow in the broader market. Combined with Perforce strengths in mobile testing, its focus on the DevOps ecosystem, and its broad portfolio of developer and tester focused solutions, we believe BlazeMeter will be in an ideal position to further execute on its vision."

"Customer engagement has gone almost completely digital requiring organizations to deliver stellar customer experiences to remain competitive," said Tim Russell, Chief Product Officer, Perforce. "The addition of the BlazeMeter Continuous Testing platform expands our solution enabling organizations to accelerate the delivery of quality experiences."

Completion of the acquisition is subject to customary closing conditions, and the transaction is expected to close in October 2021.

To learn more about the BlazeMeter Continuous Testing Platform visit www.BlazeMeter.com.

About Perforce 

Perforce powers innovation at unrivaled scale. Perforce solutions future-proof competitive advantage by driving quality, security, compliance, collaboration, and speed – across the technology lifecycle. We bring deep domain and vertical expertise to every customer, so nothing stands in the way of success. Privately held and funded by Clearlake Capital and Francisco Partners, our global footprint spans more than 80 countries and includes over 75% of the Fortune 100. Perforce is trusted by the world's leading brands to deliver solutions to even the toughest challenges. Accelerate technology delivery, with no shortcuts. Get the Power of Perforce.

About Clearlake Capital

Founded in 2006, Clearlake Capital Group, L.P. is an investment firm, operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with world class management teams by providing patient, long term capital to dynamic businesses that can benefit from Clearlake's operational improvement approach, O.P.S.^® The firm's core target sectors are industrials, consumer, technology. Clearlake currently has over $43 billion of assets under management, and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas. More information is available at www.clearlake.com and on Twitter @ClearlakeCap.

About Francisco Partners

Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has invested in more than 300 technology companies, making it one of the most active and longstanding investors in the technology industry. With more than $25 billion in assets under management, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.

About Broadcom
Broadcom Inc. (NASDAQ: AVGO) is a global technology leader that designs, develops and supplies a broad range of semiconductor and infrastructure software solutions. Broadcom's category-leading product portfolio serves critical markets including data center, networking, enterprise software, broadband, wireless, storage and industrial. Our solutions include data center networking and storage, enterprise, mainframe and cyber security software focused on automation, monitoring and security, smartphone components, telecoms and factory automation. For more information, go to https://www.broadcom.com.

Media Contacts 

PERFORCE U.S. 
Grace Bonacum 
PAN Communications 
Ph: +1 617 502 4300 
perforce@pancomm.com  

PERFORCE UK/EMEA 
Maxine Ambrose 
Ambrose Communications 
Ph: +44 118 328 0180 
perforcepr@ambrosecomms.com 

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SOURCE Perforce Software

FAQ

What is the significance of Perforce acquiring BlazeMeter CT from Broadcom?

The acquisition signifies Perforce's commitment to expanding its application quality solutions and enhancing its capabilities in the DevOps market.

What are the expected benefits of the BlazeMeter acquisition for Perforce?

Perforce expects to accelerate testing speed and accuracy, resulting in improved application quality for their global customer base.

When is the acquisition of BlazeMeter by Perforce expected to be completed?

The acquisition is expected to close in October 2021, pending standard closing conditions.

What products does the BlazeMeter CT platform include?

BlazeMeter CT offers unified functionality for load and performance testing, API testing, and monitoring.

How does BlazeMeter CT fit into the DevOps ecosystem?

BlazeMeter CT is built for continuous testing and is compatible with open-source tools, making it a useful solution for teams across the CI/CD pipeline.