The former Arxan Technologies, CollabNet VersionOne and XebiaLabs have merged to create Digital AI, a software company focused on secure DevOps and enterprise application development.
This is M&A deal number 183 that ChannelE2E has covered so far in 2020. The pace of deals has slowed a bit since the coronavirus pandemic emerged, but overall M&A activity remains reasonable steady. See the complete M&A deal list here.
Digital AI, backed by private equity firm TPG Capital, wants to change how enterprises create, measure, deliver, and secure their digital products. The three founding companies each bring their own expertise to this endeavor.
The new company was formed through a two-step process.
- First, XebiaLabs acqjuired CollabNet in January 2020.
- Then, that combined company recently acquired Arxan from private equity firm TA Associates.
The newly formed Digital AI will serve Global 5000 enterprises, especially in the automotive, banking, digital media, gaming, insurance, and medical devices industries.
Digital AI Launch: Executive Perspectives
In a prepared statement about the business combination and market focus, Ashok Reddy, CEO of Digital AI, commented:
"Now more than ever, it is critical that organizations leverage the power of business agility to optimize processes and make decisions rooted in customer-centricity. Doing so will result in higher quality, more secure products that are delivered faster and drive stronger customer and employee engagement."
Kenneth T. Schiciano, a managing director at TA Associates, added:
"TA invested in Arxan seven years ago because of the company’s well-earned reputation for providing what many considered to be the most advanced, sophisticated and proven suite of application security solutions. It has been a pleasure working with Arxan to help further solidify the company’s position, and we wish the Arxan team and Digital.ai much continued success."
