HGGC, a middle market private equity firm, has partnered with Serena Software’s founder, Doug Troxel, and signed a definitive agreement for the acquisition of Serena Software.
The current Serena executive team will continue to manage the company, and HGGC’s CEO and Managing Partner Rich Lawson will join the Board of Directors as Chairman.
“We will continue to provide world-class products, service and support to our customers,” said Greg Hughes, President and CEO of Serena. “HGGC’s support and expertise, along with Doug Troxel’s continued passion for Serena’s technology, will only enhance our abilities to capitalize on the strong position we enjoy in the markets we serve.”
“The acquisition of Serena is consistent with our strategy of investing in technology companies that are clear leaders with significant revenue streams and exceptional customers,” said Rich Lawson, HGGC’s CEO and Managing Partner. “Serena is well positioned to lead new markets at the intersection of application development and IT operations to help the world’s most important brands speed the delivery of new software capabilities to their customers.”
HGGC and Doug Troxel are acquiring Serena Software from Silver Lake Partners.
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