Perforce buys Israeli software testing co Perfecto for $200m

Eran Yaniv Photo: PR

The Rosh Ha'ayin based company has developed a cloud-platform for DevOps teams to achieve continuous testing.

US software company Perforce has acquired Israel software quality assurance and testing company Perfecto for $200 million. Founded in 2006, Perfecto is a cloud-platform for DevOps teams to achieve continuous testing and accelerate delivery of web, mobile & IoT apps. The company has raised $90 million.

The sale is a disappointment when taking into account that when perfecto raised $35 million in 2015, it was at a company valuation of $380 million. The company was also reportedly in talks last year to be sold for $350 million.

However, Perfecto CEO Eran Yaniv told "Globes" that the founders, investors, and employees at Perfecto were all satisfied with the deal. He said, "We're very satisfied. We'd distributed options to all of them."

Estimates are that investors will receive returns that double their investment. Prior to the sale the company had annual revenue of tens of millions of dollars but was still not profitable.

After the sale, Perfecto is expect to maintain its independent structure with its development office in Rosh Ha'ayin.

Published by Globes [online], Israel business news - en.globes.co.il - on October 8, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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Eran Yaniv Photo: PR
Eran Yaniv Photo: PR
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