I am pleased to announce that Serena has entered into a definitive agreement to transition the ownership of the company to a partnership of HGGC and Serena founder Doug Troxel. HGGC is a California-based private equity firm that focuses on investing in mid-market technology companies with strong technology, revenue and customers. They have an outstanding record of helping businesses reach their full growth potential.
Doug Troxel will continue as a board member and HGGC’s CEO and co-founder Rich Lawson will join as Chairman. I am excited to continue to work with Doug and to welcome the smart and successful partners from HGGC into the Serena family. My management team and the Serena employees you know today will continue with the company.
This is an important announcement for the company as it reaffirms Serena’s strategy of developing and delivering market leading solutions that increase the value of IT to the business. We will continue to deliver innovation on our core products and invest in the emerging DevOps and release management market. We will continue to offer the world-class customer support for which our customers are accustomed. And, we will continue to put our customers at the center of everything we do.
|Greg Hughes is President, Chief Executive Officer and Board Member of Serena Software. Prior to Serena, Hughes served as an operating partner at Silver Lake Partners and Group President, Enterprise Products at Symantec Corporation|
Congratulations to all!. Doug Troxel is one of the finest human beings I have had the privilege of working with. I have no doubt that Serena will continue to do great things!
I am a former Serena employee and I think that, overall, this is good news. While Silverlake is a well-known player in the technology arena, I think time has shown that they and Serena were not a good fit.
Best of luck to everyone concerned – Serena is a good company with good people and good products, and I enjoyed my time there.