M&A Deal Summary

SmartBear Acquires QMetry

On December 3, 2024, SmartBear acquired software company QMetry from Everstone Capital and Goldman Sachs Merchant Banking

Acquisition Highlights
  • This is SmartBear’s 9th transaction in the Software sector.
  • This is SmartBear’s 8th transaction in the United States.
  • This is SmartBear’s 3rd transaction in California.

M&A Deal Summary

Date 2024-12-03
Target QMetry
Sector Software
Buyer(s) SmartBear
Sellers(s) Everstone Capital
Goldman Sachs Merchant Banking
Deal Type Add-on Acquisition

Target

QMetry

Santa Clara, California, United States
QMetry provides a combination of tools, methodologies, frameworks enabling agile teams to build, manage and deploy software. QMetry is based in Santa Clara, California.

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Buyer(S) 1

Buyer

SmartBear

Somerville, Massachusetts, United States

Category Company
Founded 1999
Sector Software
Employees170
DESCRIPTION

SmartBear is a software testing tools company that provides quality and performance management solutions used by more than one million software development and operations professionals worldwide. SmartBear was established in 1999 and is headquartered in Somerville, Massachusetts.


DEAL STATS #
Overall 16 of 16
Sector: Software M&A 9 of 9
Type: Add-on Acquisition M&A Deals 13 of 13
State: California M&A 3 of 3
Country: United States M&A 8 of 8
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-22 Stoplight

Austin, Texas, United States

Stoplight is a global application programming interface (API) technology company offering a software-as-a-service (SaaS) platform for high-quality API development at any scale. Its solution brings together editing, documentation, and governance into one powerful API enablement platform. Stoplight is based in Austin, Texas.

Buy -

Seller(S) 2

SELLER

Everstone Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 3.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Everstone Group is a private equity firm focused on traditional private equity investments as well as real estate transactions. Within private equity, the Firm seeks to invest in businesses focused on domestic consumption as well as companies that are 'enablers of domestic infrastructure'. Everstone is a 'hands on' investor, willing to take an active role in managing investments. Within real estate, Everstone looks for retail, and mixed use developments, as well as industrial warehouses. Everstone Group was formed in 2006 and is based in Singapore.


DEAL STATS #
Overall 14 of 14
Sector: Software M&A 1 of 1
Type: Add-on Acquisition M&A Deals 3 of 3
State: California M&A 1 of 1
Country: United States M&A 3 of 3
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-02 Serviont

Princeton, New Jersey, United States

Servion is an independent technology-agnostic provider of Customer Experience (CX) and Digital Engineering solutions. The company offers comprehensive digital-enabled omnichannel solutions with expertise in designing and integrating complex APIs within the CX ecosystem. Servion is based in Princeton, New Jersey.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-24 Wingify

Delhi, India

Wingify is a provider of testing and optimization solutions for businesses. The flagship product, VWO, serves over 3,000+ global brands, helping them optimize digital experiences and drive business growth. Wingify was founded in 2010 and is based in Delhi, India.

Buy -
SELLER

Goldman Sachs Merchant Banking

New York, New York, United States

Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.


DEAL STATS #
Overall 123 of 126
Sector: Software M&A 11 of 11
Type: Add-on Acquisition M&A Deals 42 of 43
State: California M&A 9 of 9
Country: United States M&A 88 of 90
Year: 2024 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-11 Sila Services

King of Prussia, Pennsylvania, United States

Sila Services is a provider of residential HVAC, plumbing, indoor air quality, and home automation systems. Sila Heating & Air Conditioning was founded in 1989 and is based in King of Prussia, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-20 Omega Healthcare Management Services

Boca Raton, Florida, United States

Omega Healthcare Management Services is a provider of outsourcing services to U.S.-based medical billing companies. The Company currently provides the following services from its wholly-owned facilities in Bangalore and Chennai, India: medical coding (professional and facility), accounts receivable management (correspondence management, A/R analysis, and collections), and data entry into different client software applications (charges, insurance coding, demographics, and cash posting). Omega Healthcare Management Services is based in Boca Raton, Florida.

Buy -