Q&A With Perforce CEO Janet Dryer on the Seapine Acquisition

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By Arnav Joshi

Perforce Software moved corporate headquarters from California to Minnesota over the summer as former HelpSystems CEO Janet Dryer took the CEO role.

Formed in 1995, the company specializes in version management and collaboration software for the enterprise, now with 300 global employees across six offices.

With backing from PE firm Summit Partners Perforce acquired Ohio-based Seapine Software earlier this month; Dryer expanded on the deal for us thanks to our M&A underwriter Franklin Partners.

Franklin Partners

How did you get to know Seapine and what was the primary appeal?

We have an ongoing M&A effort, looking for potential acquisition targets that will fill out our portfolio across the development pipeline and application lifecycle.

Seapine offers a strong Application Lifecycle Management solution with a loyal customer base and a solid reputation in the market. They also have a team of experts with years of experience in the ALM market. And Seapine leadership recognizes that with the resources and support of an organization like Perforce, the Seapine ALM platform can accelerate its growth, and become a global provider in the application lifecycle management space.

Where do you think Seapine will provide the most value to Perforce in the long run?

Seapine’s suite of ALM solutions are a great complement to the Perforce portfolio. Seapine’s ALM suite already has some basic integration with the Perforce Helix Versioning Engine. And we intend to strengthen that integration. Seapine offers a version control solution called Surround SCM that delivers solid functionality for smaller scale projects. Perforce Helix version control continues to be the best fit for enterprises requiring performance, scale and security.

Do you think this acquisition will help expand Perforce’s reach and expertise within a particular industry?

Today Perforce deploys its solutions to any company that develops technology as a key element of its products. And today we are very strong in certain industries such as enterprise software, game development, medical devices, manufacturing, automotive and financial services.The acquisition of Seapine will allow Perforce to further expand into some of these same markets as Seapine’s solutions are especially strong in highly regulated industries such as medical devices, automotive and financial services.

How many employees does Perforce currently have and how does the Seapine acquisition change this?

The two companies combined now have close to 300 employees across 6 offices globally, with approximately 40 in Minnesota right now and more planned.

Is growth via continued acquisition part of the Perforce grand strategy?

Perforce has aggressive plans for both organic growth and growth via acquisition. We have an ongoing M&A effort, looking for potential acquisition targets that will fill out and complement our existing portfolio across the development pipeline and application lifecycle. We are also looking at companies with complementary technologies that will provide deeper and more complete solutions in industry specific verticals.

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