US test automation for cloud and enterprise applications company Tricentis announced today the acquisition of Israeli AI-based SaaS test automation platform Testim. No financial details were disclosed but market source believe that Texas-based Tricentis will pay more than $150 million for Testim, which has raised $18 million since it was founded from investors including Lightspeed Ventures and Meron Capital.
Tricentis said that Testim will extend its AI-powered continuous testing platform, and will allow the company to simplify test automation, enabling organizations to create end-to-end tests quickly and easily. Tricentis added that Testim will expand and strengthen its existing SaaS offerings for customers who want to adopt cloud-based testing capabilities with flexible consumption models.
Tricentis chairman and CEO Kevin Thompson said, "Tricentis aims to help customers deliver better business outcomes by producing high-quality, high-performing, and highly secure applications, no matter where or what the app might be. The addition of Testim expands our already formidable lineup of testing products further into Saas and the DevOps space."
Testim founder and CEO Oren Rubin said, "Tricentis has built a comprehensive offering to support the full testing lifecycle across the enterprise application landscape. The unique capabilities of both companies complement one another perfectly, and devs around the world will enjoy a more robust, comprehensive platform and higher productivity."
Published by Globes, Israel business news - en.globes.co.il - on February 9, 2022.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.