Today, we are excited to announce that we have been acquired by CollabNet Inc., the founder and corporate sponsor of the Subversion version control system. The terms of the deal are confidential, but I can say that there is a combination of cash and equity that will keep the Codesion team focused on building and growing the combined company until we achieve our ultimate vision (creating the epicenter of the Subversion universe). We are excited to bring our unique hosting technology platform and flexible, secure and reliable developer tool services, to CollabNet’s universe of 5 million Subversion downloaders, users, and now 6,000 corporate customers.
Since Mark Bathie founded the company as CVSDude in 2002, Codesion has attracted over 100,000 users (70K active today), thousands of workgroups, companies, universities, and governments (3,400 paying today), and helped developers track hundreds of millions of file updates (over 5M / month currently). A significant proportion of startups have used CVSDude or Codesion at some point in their history to manage their code repositories. We never raised venture capital (we did raise $1.2M in Angel funding), instead bootstrapping through 32 consecutive quarters of recurring revenue growth – achieving 60% year-on-year growth in Q2 2010, and relocating from Brisbane, Australia, to Palo Alto, CA, and now to Brisbane, CA!
Of course, this has only been made possible by the support of our recent and long-term customers, some of whom date back over five years. As you can see in our acquisition comic, this merger has been driven in part by our desire to cater to the increasing sophistication of your requests- including agile management, improved application integration and analytical insight, better Git support, continuous integration and the link to production, improved service level agreements, training, and more.
The union with CollabNet was in large part driven by our united vision to provide best-of-breed and deeply integrated agile development tools to the global software industry. CollabNet is an open source company at heart, and sells TeamForge, Subversion, and ScrumWorks Pro (by acquisition of Danube in early 2010) and SVN/Scrum training services to the Fortune 1000 (accounts with tens of thousands of developers), on premise and behind the firewall.
At the same time, CollabNet sponsors vast developer communities (totalling 5 million users), such as Tigris.org, AnkhSVN, openCollabnet, and well-known open source projects. The Codesion free and customer community will now benefit from access to the thought leaders, core SVN committers, certified SCRUM trainers, and products that form the fabric of the CollabNet organization. In fact, effective today:
- All Codesion customers will have free access to the first of three Subversion for Developers training packages (log in to Help.Codesion.com)
- Professional Edition customers will have free access to TeamForge Project, a new single-project version of CollabNet’s flagship agile development suite (includes code browser, wiki, tracker, documents, tasks, build/test, analytics)
- We will not be increasing or changing pricing any time soon – in fact, we’re aiming to offer more free services
By joining the CollabNet team, we will be able to accelerate our ability to bring awesome new functionality and services to our platform. This means that you will be able to focus on building great applications, while Codesion will become a more valuable component of your cloud-based development. We’re happy that CVSDude / Codesion has existed since before “cloud” was a buzzword, while playing an important role in reducing the upfront costs of startup companies and facilitating secure collaborative development.
Codesion will continue to play a valuable role as the “Codesion Cloud Services” business unit of CollabNet, one of the best known and most respected names in the software industry. All employees are joining CollabNet – further indication that CollabNet is investing heavily in Codesion and cloud services. In addition to our existing tools, Codesion will deliver TeamForge and Scrumworks (agile management) – while spearheading Cloud initiatives in build/test and deployment. It is stimulating and humbling to work alongside the thought-leaders that produced Subversion – the clear market leader serving 60% of the version control industry.
So- look forward to the improved services and access to expert personnel that comes from our being included in a larger team. I look forward to your feedback. Also, be sure to attend our explanatory webinar tomorrow at 10am PDT, and join us for beers at Thirsty Bear in San Francisco at 6:30pm.
Guy Marion, CEO
Questions, Comments, Feedback? Share them with us in the comments section below.