Francisco Partners, a global technology-focused private equity firm, acquired a majority stake in SmartBear, a Somerville, MA-based provider of software quality tools for teams.
The amount of the deal was not disclosed.
The investment aims to support the company’s growth efforts.
Led by Justin Teague, CEO, SmartBear provides software developers with tools for API testing, UI testing, code review and performance monitoring across mobile, web and desktop applications. The company currently supports more than five million software professionals and over 20,000 companies in 194 countries.
The acquisition by Francisco Partners marks a transition in lead investors from SmartBear’s original 2007 investor, Insight Venture Partners.
FinSMEs
04/05/2017