TestProject has been sold to Tricentis, a portfolio company of Insight Partners
Lincoln International acted as the exclusive financial advisor to TestProject, working closely with shareholders and management on the sale. This included identifying Insight Partners and its portfolio company, Tricentis, as the ideal partner for the business in addition to the negotiation and due diligence phases of the transaction. The terms of the transaction were not disclosed.
Founded in 2015 and headquartered in Petach Tikva, Israel, TestProject is a next-generation testing and execution framework built for automating modern Web, Android and iOS software applications. The company provides a complete testing toolchain, from manually recording tests to complete integration with continuous integration and continuous delivery workflows.
Mark Kardashov, CEO of TestProject, commented, “The strength of Lincoln’s global relationships allowed TestProject to effortlessly interact with strategic partners and quickly complete a successful outcome.”
Roger Knight, Managing Director in Lincoln International’s Technology, Media & Telecommunications Group commented, “We offer our congratulations to both the TestProject and Tricentis teams on this important transaction. The transaction between these two world-class technologies positions the combined business for continued market leadership.”
Lincoln’s experience, industry knowledge and access to key decision makers proved vital to a successful sale.
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