Serena Software

Serena Software Inc
Private
Industry Computer software, Application lifecycle management, IT management
Founded 1980
Founder Doug Troxel
Headquarters San Mateo, California, U.S.
Key people
 Greg Hughes, CEO
Revenue IncreaseUS$219 million (2012)[1]
Number of employees
 400+[2]
Website www.serena.com

Serena Software Inc is a US-based software company that provides IT management products to enterprises around the world. Serena solutions offer a process orchestration approach and span the areas of development, DevOps and IT management.

Serena is headquartered in Silicon Valley, California and has 400+ employees.[2]

Serena is a portfolio company of private equity firm HGGC.[3]

Serena is now part of Micro Focus.

Products

The company provides process-based solutions for managing and automating application development, DevOps and IT operations. The company's revenues are generated through software licenses, maintenance contracts and professional services.[1]

Serena's products and solutions address the following industry segments:

History

Serena Software acquired Merant Software in 2004 which provided Serena ownership rights to PVCS.

In May 2004, Serena announced it would acquire TeamShare, producers of the defect management system TeamTrack. This later became Serena Business Mashups (SBM), which was shortly renamed Serena Business Manager.[4]

In November 2005, Serena Software announced that it had agreed to be acquired by Silver Lake Partners in a $1.2 billion leveraged buyout transaction. The buyout was announced at a price of $24 per share in cash, and the transaction occurred in 2006. Following the transaction, Silver Lake, a technology focused private equity firm acquired about 70% of the Serena stock.[5] The Silver Lake Partners acquisition resulted in no immediate changes to the executive management team and daily operations continued much as they had before.[6][7][8][9]

In October 2006, Serena announced the acquisition of Pacific Edge Software[10] to enter the emerging project portfolio management (PPM) market. Mariner, a leading provider of Project and Portfolio Management (PPM) solutions was determined to be a good match for Serena's existing portfolio of products. After Pacific Edge, Serena made a number of more minor acquisitions, purchasing prototyping technology from Apptero, requirements management technology from Integrated Chipware and asset discovery technology from Data Sciences Corporation.[11]

In September 2008 Serena announced the acquisition of Projity, an open source software as a service (SaaS)-based project management company.[12]

John Nugent was appointed CEO in November 2009.[13]

In November 2010, Serena announced a new strategy to orchestrate application delivery with a process-driven approach.[14]

In January 2012, Serena's solutions for Orchestrated IT, Serena Service Manager (SSM) and Serena Release Manager (SRM) were named finalists for the Pink Elephant 2011 Innovation of the Year Award.[15]

In February 2012, Serena Service Manager was named the winner of Pink Elephant’s 2011 Innovation of the Year Award.[16]

Greg Hughes was appointed CEO in January 2013.[17]

During 2013 Serena tried to address falling profits and increase operating margins by reducing its workforce by some 175 employees, hoping to cut operating expenses for the fiscal year 2014. By July the company had total outstanding debt of USD 410 million.[18]

In March 2014, Serena announced the acquisition of the company by a partnership of founder Doug Troxel and private equity firm HGGC.[3] The acquisition was completed in April, 2014.[19]

In March 2016, Micro Focus announced its intent to acquire Serena, then valued at $540 million.[20]

References

  1. 1 2 "Annual Report for Serena Software Inc for Fiscal Year 2012". Retrieved 2012-12-18.
  2. 1 2 "Corporate Brochure" (PDF). Retrieved 2015-06-16.
  3. 1 2 HGGC to Acquire Serena Software, (Press Release) Serena Software. March 10, 2014
  4. ↑ Serena Software to Acquire TeamShare Incorporated. PR Newswire, May 19, 2004
  5. ↑ "Serena Software Announces Completion of Acquisition by Silver Lake Partners" (Press release). Serena. 2006-03-10. Retrieved 2006-03-10.
  6. ↑ Serena Software latest target of buyout firm. USA Today, November 11, 2005
  7. ↑ Silver Lake rides technology debt wave. MarketWatch, March 29, 2006
  8. ↑ Serena Software Buyout: $1.2B Red Herring, November 10, 2005
  9. ↑ The LBO Gang Storms The Valley. Business Week, September 11, 2006. (quote:
    Things started heating up a year ago [...]. Since then, many have followed. Last November, for instance, Serena Software Inc. in San Mateo sold itself to private-equity firm Silver Lake Partners for $1.3 billion.
    )
  10. ↑ "Serena Software to Acquire Project and Portfolio Management Leader" (Press release). Serena. 2006-10-04. Retrieved 2006-10-04.
  11. ↑ Serena Software to buy Pacific Edge. San Francisco Business Times, October 2, 2006
  12. ↑ "Serena Software Acquires Open Source Alternative to Microsoft Project" (Press release). Serena Software. 2008-09-23. Retrieved 2008-09-23.
  13. ↑ "Privately-Held Serena Software Names John Nugent as Chief Executive Officer" (Press release). Serena Software. 2009-11-02. Retrieved 2009-11-02.
  14. ↑ "Serena Software Unveils New Strategy to Orchestrate Application Delivery" (Press release). Serena Software. 2010-11-08. Retrieved 2013-01-02.
  15. ↑ "Serena Software Named Pink Elephant 2011 Innovation of the Year Award Finalist" (Press release). Serena Software. 2012-01-18. Retrieved 2013-01-02.
  16. ↑ "Serena Software Wins Coveted Pink Elephant Innovation Award for its ITSM Solution" (Press release). Serena Software. 2012-02-21. Retrieved 2013-01-09.
  17. ↑ "Serena Software Appoints Greg Hughes as President and Chief Executive Officer" (Press release). Serena Software. 2013-01-14. Retrieved 2013-02-04.
  18. ↑ Serena Software auction continues as Attachmate exits: sources, Reuters
  19. ↑ Serena’s Ownership Change is Complete, (Blog post) Serena Software. April 21, 2014
  20. ↑ "Micro Focus Announces Intent to Acquire Serena Software, Inc. - Micro Focus". www.microfocus.com. Retrieved 2016-03-22.
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