January 28, 2019
Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to Travis CI, a market leader in continuous integration, by Idera, Inc., a global B2B software productivity brand. Travis CI will join Idera, Inc.’s Testing Tools division, which also includes TestRail, Ranorex and Kiuwan.
Travis CI is a continuous integration platform used by more than 700,000 developers worldwide to build and test software applications. Travis CI integrates with most other tools in the software development lifecycle, making the platform extremely popular with developers and highly complementary to Idera’s Developer and Testing Tools offerings.
Founded in 2011 and headquartered in Berlin, Travis CI is a respected leader in the open source community and provides commercial options for customers looking for enhanced features, performance and support. The Company’s customers include IBM, Schibsted and Zendesk.
“We are excited about our next chapter of growth with the Idera team,” said Konstantin Haase, a founder of Travis CI. “Our customers and partners will benefit from Idera’s highly complementary portfolio and ability to scale software businesses to the next level. Our goal is to attract as many users to Travis CI as possible, while staying true to our open source roots and community.”
“Travis CI expands our target market to include all types of development platforms. Travis CI’s cloud-centric, platform-agnostic approach to accelerating delivery and improving developer productivity creates significant growth potential. Our Testing Tools business alone includes over 15,000 customers, all of whom would benefit from Travis CI’s technology,” said Suhail Malhotra Idera’s General Manager for Travis CI. “We admire the business value driven by Travis CI and look forward to helping more customers achieve better and faster results.”
The acquisition represents another successful transaction for Cascadia in the DevOps technology sector. Past transactions include the acquisitions of Scout Server Monitoring and Papertrail.
For more information about this transaction, please contact the Cascadia Capital deal team:
Senior Vice President