posted on July 29, 2010 23:10
SmartBear Software has been acquired and moved its Austin headquarters to Beverley, Mass.
New York private equity firm Insight Venture Partners purchased the local software-as-a-service in 2008 and merged the company with two others, according to an announcement today. The new company — which also merged Russia-based AutomatedQA Corp. and Pragmatic Software Co. Inc. of Denver— employs a total 130 workers.
Officials said SmartBear's Austin development office will stay open with the same number of staff, about 50. The company's top executive Joe Krivickas also stayed on through the merger. He moved to the merged SmartBear's Massachusetts office, where they already had a customer service, marketing and finance office.
“Each of the businesses were bootstrapped, they were highly profitable and really scaling very well,” Krivickas said. “We continue to be very, very highly profitable. We’re what I like to call a blue-collar technology company.”
Krivickas previously served Bluestone Software and Segue Software before they were purchased by Hewlett Packard Co. and Borland, respectively.
July 19th, 2010 | Galen Moore | Austin Business Journal