CollabNet Buys SourceForge Enterprise Edition
April 25, 2007 —
CollabNet announced yesterday that it is acquiring the SourceForge Enterprise Edition collaborative development software from VA Software. In exchange, VA Software will receive an equity ownership stake in CollabNet. The deal will bring the enterprise code repository system based on the successful open source collaboration site SourceForge.net into a product line that already includes products built around the Subversion source control system.
VA Software has said that this move will allow it to focus on its media properties. Ali Jenab, CEO of VA Software, said, “With our equity ownership in CollabNet we demonstrate our continued belief that demand for quality collaborative software development solutions continues to grow. Going forward, our executive management team will be keenly focused on growing our core online media assets, comprised of SourceForge.net, Slashdot.org, ITManagersJournal.com, NewsForge.com, Linux.com, freshmeat.net and ThinkGeek.com.”
The move ends VA Software's foray into enterprise software development. The company, co-founded by open source advocate Larry Augustin, gained notice in 1999 when it purchased a competitor and became known as VA Linux Systems. It had a historic initial public offering in December 1999, when its share price climbed from US$30 to $239.25, a one-day return of almost 700 percent.
With the acquisition, CollabNet is bringing together the two leading collaborative development platforms. “The market for globally distributed software development solutions is growing rapidly as the need for interconnected applications and software development teams has now become the norm,” said Bill Portelli, CEO of CollabNet, in a statement. “With the addition of SourceForge Enterprise Edition business to CollabNet's product portfolio and team, we have become the standard for this new method of performing decentralized development. Unlike conventional software development systems, CollabNet's solutions are designed to promote and optimize the benefits of collaboration and distributed software development, based on open source principles. Our solutions provide two to 10 times the cost advantage and a 20 to 50 percent productivity improvement, as compared to legacy software development platforms.”
CollabNet will immediately absorb the VA Software employees directly tied to SourceForge Enterprise Edition.
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