Bridgepoint Capital buys majority stake in QualiTest
QualiTest, the Israeli software testing and quality assurance company, has revealed that Bridgepoint Capital has acquired a majority stake in the business from Marlin Equity Partners.
Bridgepoint reportedly paid $420 for the stake. Marlin will retain a minority holding in QualiTest.
QualiTest offers a range of quality engineering and testing solutions powered by AI. According to Bridgepoint, the software testing market is growing at 13% per annum, driven by a $32bn global outsourced supplier marketplace.
QualiTest is already active in the UK, the US, Israel, Romania and India and said it hopes that the new investment will enable it to accelerate its global acquisition strategy.
“We’re excited to have found a strong growth partner in Bridgepoint. They are thoughtful investors who seek to work with strong management teams and have a history of investing in high growth potential markets,” said Norm Merritt, CEO of QualiTest (pictured).
“Their long-term capital commitment provides us with the platform to accelerate the next stage of our development and execute our global acquisition strategy so that we can continue delivering outstanding value to our customers.”
This announcement follows a period of rapid change for the business. The appointment of Norm Merritt in September 2018 – replacing the company’s departing CEO and founder, Ayal Zylberman – came after a wave of acquisitions to accelerate growth. In May 2018, QualiTest signed an agreement to acquire the testing services division of Orasi Software, Inc., an Atlanta-based software reseller and professional services company. A week later, it penned another deal to buy out the software testing business of IT services provider NCC Group in a deal worth £3.6m.