Serena Software

Last updated
Serena Software Inc.
Company type Subsidiary
Industry Computer software, Application lifecycle management, IT management
Founded1980;44 years ago (1980)
FounderDoug Troxel
Headquarters San Mateo, California, U.S.
Key people
Greg Hughes (CEO)
RevenueIncrease2.svg US$219 million (2012) [1]
Number of employees
400+ [2]
Parent OpenText
Website www.serena.com

Serena Software Inc. is an American software company that provides IT management products to enterprises. [3] Serena solutions offer a process orchestration approach and span the areas of development, DevOps and IT management.

Contents

Serena is headquartered in Silicon Valley, California and has 400+ employees. [2] The company became a subsidiary of the British software and information company Micro Focus in 2016. In 2023, Micro Focus (including Serena Software) was acquired by Canadian software company OpenText and remain a subsidiary.

History

Serena Software acquired Merant Software in 2004 which provided Serena ownership rights to Polytron Version Control System (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 US$1.2 billion leveraged buyout transaction. The buyout was announced at a price of US$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 US$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. [19] The acquisition was completed in April 2014. [20]

In March 22, 2016, Micro Focus announced its intent to acquire Serena Software, Inc., with acquisition expected to close in early May 2016, with transaction valued at US$540 million. [21] In 2016-05-02, Micro Focus announced it has completed the acquisition. [22]

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:

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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. ↑ Davey, James (22 March 2016). "Micro Focus buys Serena Software for $540 million". Reuters. Retrieved 3 January 2017.
  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. Archived from the original on July 29, 2010.
  9. ↑ "The LBO Gang Storms The Valley". Business Week. September 11, 2006. Archived from the original on 2006-11-10. 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. ↑ "HGGC to Acquire Serena Software" (Press release). Serena Software. March 10, 2014.
  20. ↑ "Serena's Ownership Change is Complete" (Blog post). Serena Software. April 21, 2014.
  21. ↑ Micro Focus Announces Intent to Acquire Serena Software, Inc.
  22. ↑ Micro Focus Completes Acquisition of Serena Software, Inc.
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