William Blair acted as the exclusive financial advisor to Applitools, a founder-led DevOps leader VC-backed by OpenView, Sierra Ventures, and Magma, in connection with its pending investment by Thoma Bravo. The transaction signed on March 25 and is expected to close in April.
- Building momentum in DevOps sector: This high-ARR multiple transaction re-enforces William Blair's position as the pre-eminent advisor for DevOps companies.
- Deep sector expertise and relationships: Applitools was attracted to William Blair’s extensive knowledge and industry experience advising market-leading Enterprise IT companies. In addition, William Blair’s strong buyer relationships provided valuable insight into tactics and guidance for management of the most likely and aggressive buyers.
- Trusted guidance and relentless commitment for client success: William Blair’s deal team exhibited continued commitment for client success throughout the process. They closely collaborated on developing marketing materials, coordinating due diligence, educating prospective buyers, and navigating cross-border deal dynamics between the U.S. and Israel.
About the Companies
Applitools delivers a Next Generation Test Automation Platform leveraging Visual AI technology. Applitools enables engineering teams to release high quality web and mobile apps at incredible speed and at a reduced cost. Applitools Visual AI modernizes test automation across Functional Testing, Visual Testing, Web and Mobile UI/UX Testing, Cross Browser Testing, Responsive Web Design Testing, Cross Device Testing, and Compliance Testing – to transform the way organizations deliver innovation at the speed of CI/CD. Applitools is based in San Mateo, California, with offices in Tel Aviv, Israel, and Melbourne, Australia.
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.