The Austrian-based Tricentis acquires the Israeli start-up Testim for an estimated $ 200 million

The Austrian-based company Tricentis has announced the acquisition of the Israeli start-up Testim, which has developed an AI-based platform for testing automation offered as a cloud service. The value of the deal is estimated at $ 200 million.
Testing will expand Tricentis' testing platform and help it simplify their automation and enable organizations to perform rigorous end-to-end testing quickly and easily. Trisentis customers will now have the flexibility to choose products and services that suit their needs, in a local installation model with a fee for annual licensing or in a cloud service model (SaaS) with a pay-per-view model. A shared data model and cross-product integration will allow customers to integrate and tailor product capabilities to suit their requirements.
Tests was founded in 2014 by Oren Rubin, who has since served as the company's CEO. The company employs 60 employees, 35 of them at the Israeli headquarters in Tel Aviv, who will join a purchasing company. Tests has raised $ 18 million to date from Lightspeed, SignalFire, Meron Spider Capital, and NHN ventures. The company introduced, upon its inception, an approach that focused on accelerating app development by shortening the time required to write code for tests, automatically improving it, troubleshooting and analyzing tests. As development teams complete a development round and the app evolves, Tests uses algorithms that automatically correct the tests to maintain their stability and automation durability.
Trisentis, founded in 2007, is a global leader in continuous enterprise software testing, recognized as a company that has innovated the world of software testing for DevOps, cloud and enterprise applications. Tricentis' platform for continuous testing provides a new and fundamentally different way of performing software testing - an automated approach that requires little code writing and is driven by AI. Tricentis is suitable for flexible development environments and complex enterprise applications, enabling organizations to accelerate digital transformation by dramatically shortening the time required to release software, saving costs and improving qualities. Tricentis has gained widespread recognition from industry-leading analysts, including being crowned as the leader in Gartner's Magic Square for five years in a row.
Trisentis today has more than 2,100 customers, including leading brands such as McKesson, Accenture, Nationwide Insurance, Allianz and Vodafone. The buyer's revenue is estimated at $ 110 million a year and it employs about 1,000 people. In 2017, the Insight Partners Fund invested $ 165 million in the company and became a major shareholder. This is Tricentis' second acquisition in the country. In 2019 it acquired TestProject and turned it into its local development center.
"Trisentis strives to help customers achieve improved business results by building quality, high-performance and secure applications, regardless of the type of application or where it wants to go," said Quinn Thompson, chairman and CEO of Trisentis. "Joining Tests is expanding our test product line, which is already rich."
"Tricentis has built a rich offering of products that support the full lifecycle of enterprise application testing," adds Oren Rubin, founder and CEO of Tests. "The two companies' unique capabilities complement each other and developers around the world will benefit from a powerful platform."