Applitools, an Israeli firm which provides visual test automation software, has been acquired by Thoma Bravo, a leading private equity investment firm focused on the software and technology-enabled services sector. While the price was not disclosed, Globes reports that people close to the deal revealed that tit was $300 million.
Founded in 2015 by CEO Gil Sever, CTO Adam Carmi, and COO Moshe Milman, Applitools boasts that it delivers a “Next Generation Test Automation Platform through Visual AI and Ultrafast Test Cloud.” Its Applitools enable engineering teams to release high quality web and mobile apps at incredible speed and at a reduced cost. Gil Sever, Adam Carmi, and Moshe Milman will retain a stake in the company after the buyout.
Applitools Visual AI modernizes important test automation use cases — Functional Testing, Visual Testing, Web and Mobile UI/UX Testing, Cross Browser Testing, Responsive Web Design Testing, Cross Device Testing, PDF Testing, Accessibility Testing and Compliance Testing — to transform the way organizations deliver innovation at the speed of CI/CD at a significantly lower Total Cost of Ownership (TCO).
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Hundreds of companies from verticals such as Tech, Banking, Insurance, Retail, Pharma, and Publishing — including 50 of the Fortune 100 — use Applitools to deliver the best possible digital experiences to millions of customers on any device and browser, and across every screen size and operating system.
“As digital transformation accelerates, more and more software developers are turning to Applitools’ cross-environment testing solutions to build and verify high quality software applications users can trust,” said Gil Sever, CEO of Applitools. “At this moment of dynamic change, businesses are looking for peace of mind and reliable, AI-augmented toolkits to maintain continuity across digital touchpoints. We look forward to partnering with Thoma Bravo to double down on our significant business momentum, drive continued product innovation and take our unique technology to new heights.”
“Virtually every industry in our economy is undergoing a digital transformation, with customers demanding flawless user experiences, and Applitools is the leading innovator in the UX test automation market,” said Carl Press, a Principal at Thoma Bravo. “The pandemic has only accelerated this transformation, as businesses work to achieve high-level continuous quality across the full range of consumer devices. We couldn’t be more excited to partner with Gil and the Applitools team as they continue delivering best-in-class, AI-enabled solutions.”
Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With more than $76 billion in assets under management as of December 31, 2020, Thoma Bravo partners with a company’s management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. The firm has offices in San Francisco, Miami, and Chicago