Serena Software founder Doug Troxel is teaming up with private equity firm HGGC to purchase the application development software vendor from Silver Lake Partners. Terms of the deal, which was announced Monday, were not disclosed.
The buyout of IT companies by private equity firms continues, with enterprise content management vendor Serena Software and networking gear maker Enterasys both agreeing to be acquired by private equity companies.
Serena Software, vendor of software designed to assist application development and integration, is seeking partners from around the world to help meld software from multiple vendors into a common Application Lifecycle Framework (ALF).