Keynote to acquire DeviceAnywhere
KeynoteSystems has signed a definitive agreement to acquire privately-held Mobile Complete, Inc, doing business as DeviceAnywhere for approximately $60.0 million in cash plus a potential earn-out.
DeviceAnywhere provides cloud-based products and services for testing and monitoring the functionality, usability, performance and availability of mobile apps and websites. More than 1,200 organisations rely on the DeviceAnywhere platform to accelerate the entire QA lifecycle to deliver mobile applications, content and services faster, with more confidence about quality of service, while reducing downtime and testing costs.
Umang Gupta, Chairman and CEO of Keynote, said, “Combining DeviceAnywhere’s leading testing and quality assurance cloud-based solutions with our strong mobile monitoring business firmly establishes Keynote as a leader in the mobile testing and monitoring markets. The resulting increased product breadth and scale meaningfully enhance our competitive position. In addition, the acquisition will expand our addressable market into the immediately adjacent enterprise mobile testing and quality assurance space, which we project could enable us to grow this into a $100 million business.”
Also based in San Mateo, DeviceAnywhere will continue to be led by its co-founders Faraz A. Syed, CEO, and David J. Marsyla, CTO, and will operate as a standalone subsidiary, similar to Keynote-SIGOS, after the transaction.
Gupta added, “We welcome DeviceAnywhere’s talented employees to Keynote. We are especially pleased that industry pioneers Faraz and David will continue to provide expertise, vision and leadership by heading up our new Keynote-DeviceAnywhere division.”
Faraz A. Syed said, “DeviceAnywhere’s team is excited to be joining Keynote at a time when the enterprise mobile industry is beginning to accelerate. Our complementary offerings provide a full gamut of options for our existing and prospective customers, and we look forward to working with Keynote to increase our combined share in this dynamic market.”
DeviceAnywhere logically extends Keynote’s enterprise mobile product portfolio into the immediately adjacent mobile testing and QA market. The complementary solutions enable Keynote to address a wider spectrum of the mobile market by now offering new and existing enterprise customers the leading solutions in both mobile performance monitoring and in mobile testing/quality assurance.