Keynote has been acquired by an affiliate of leading private equity investment firm Thoma Bravo, LLC in an all-cash transaction valued at approximately $395 million.
The transaction was approved by stockholders holding a majority of Keynote’s outstanding shares of common stock at a special meeting of stockholders held on Wednesday, August 21.
With the consummation of the transaction, Thoma Bravo has acquired 100% of Keynote's outstanding shares of common stock and Keynote is now a privately-held company.
The majority of Keynote’s senior management continues with the company and the company’s headquarters will remain in San Mateo.
Keynote also announced the retirement of its long-time chairman and CEO Umang Gupta.
“For over 15 years, we at Keynote have focused on creating a company built to last,” said Umang Gupta. “I am gratified to have served as the company’s CEO through its multiple phases: during the early dot-com boom years of spectacular growth, during our journey to survive as a profitable entity after that boom faded, and during our subsequent growth revival phase as the mobile telecom revolution began. Our sale to Thoma Bravo enables the company to strategically invest and grow across all its businesses; in particular the nascent mobile enterprise business. I want to thank the entire family of Keynote employees whose loyalty, hard work and commitment to our collective success brought us to this positive juncture.”
“We’re thrilled to add Keynote to the Thoma Bravo family of leading infrastructure and software companies,” said Orlando Bravo, managing partner at Thoma Bravo. “Keynote is the established leader in the Internet and mobile testing and monitoring market and is currently at the forefront of a very compelling macro environment. The increasing complexity of websites combined with the proliferation of mobile devices creates new markets for the company’s enterprise business, while the shift to 4G and LTE networks continues to benefit its mobile telecom business. Thoma Bravo is excited to partner with Keynote to accelerate the growth of the company going forward.”
Mohan Gyani, retiring Keynote board member and retired president and CEO of AT&T Wireless Mobility Services, stated, “On behalf of Keynote’s board of directors, we wish to thank Umang for his many years of service to the company. His strong leadership, strategic foresight and relentless dedication helped propel Keynote to market leadership from the very beginning. His deft navigation of the company during the dot-com boom and bust years, and then through the 2008 downturn, to this sale, is nearly without precedent in our industry. The board is very pleased for all concerned with the outcome of Keynote’s sale to Thoma Bravo. Finally, on behalf of the entire board I would also like to thank all of Keynote’s employees. We believe Keynote’s future is brighter than ever.”
The Latest
In a fast-paced industry where customer service is a priority, the opportunity to use AI to personalize products and services, revolutionize delivery channels, and effectively manage peaks in demand such as Black Friday and Cyber Monday are vast. By leveraging AI to streamline demand forecasting, optimize inventory, personalize customer interactions, and adjust pricing, retailers can have a better handle on these stress points, and deliver a seamless digital experience ...
Broad proliferation of cloud infrastructure combined with continued support for remote workers is driving increased complexity and visibility challenges for network operations teams, according to new research conducted by Dimensional Research and sponsored by Broadcom ...
New research from ServiceNow and ThoughtLab reveals that less than 30% of banks feel their transformation efforts are meeting evolving customer digital needs. Additionally, 52% say they must revamp their strategy to counter competition from outside the sector. Adapting to these challenges isn't just about staying competitive — it's about staying in business ...
Leaders in the financial services sector are bullish on AI, with 95% of business and IT decision makers saying that AI is a top C-Suite priority, and 96% of respondents believing it provides their business a competitive advantage, according to Riverbed's Global AI and Digital Experience Survey ...
SLOs have long been a staple for DevOps teams to monitor the health of their applications and infrastructure ... Now, as digital trends have shifted, more and more teams are looking to adapt this model for the mobile environment. This, however, is not without its challenges ...
Modernizing IT infrastructure has become essential for organizations striving to remain competitive. This modernization extends beyond merely upgrading hardware or software; it involves strategically leveraging new technologies like AI and cloud computing to enhance operational efficiency, increase data accessibility, and improve the end-user experience ...
AI sure grew fast in popularity, but are AI apps any good? ... If companies are going to keep integrating AI applications into their tech stack at the rate they are, then they need to be aware of AI's limitations. More importantly, they need to evolve their testing regiment ...
If you were lucky, you found out about the massive CrowdStrike/Microsoft outage last July by reading about it over coffee. Those less fortunate were awoken hours earlier by frantic calls from work ... Whether you were directly affected or not, there's an important lesson: all organizations should be conducting in-depth reviews of testing and change management ...
In MEAN TIME TO INSIGHT Episode 11, Shamus McGillicuddy, VP of Research, Network Infrastructure and Operations, at EMA discusses Secure Access Service Edge (SASE) ...
On average, only 48% of digital initiatives enterprise-wide meet or exceed their business outcome targets according to Gartner's annual global survey of CIOs and technology executives ...
