B2B Services
Exclusive advisory to Richmond View Ventures on the trade sale of test.io to epam systems
The acquisition strengthens test IO’s SaaS crowdtesting platform and creates significant synergies for both companies.
July, 2019. ox8 Corporate Finance advised Richmond View Ventures on the sale of test IO to EPAM Systems. test IO is a SaaS crowdtesting platform founded in Berlin in 2011 that offers software development teams unique opportunities to ship higher-quality software faster and more flexibly. The acquisition creates numerous synergy effects for both companies. The parties have agreed not to disclose the investment amount.
Transaction Details
| Mandate: | Sell-Side |
| Client: | Richmond View Ventures, Shareholder of Test IO GmbH (Germany) |
| Investor: | epam Systems (Germany) |
| Transaction: | Trade Sale |
| Volume: | Not Public |
test IO provides a SaaS crowdtesting platform that empowers software development teams to ship higher-quality software faster and more flexibly. The platform enables software teams to perform on-demand testing with real people on real devices throughout the development cycle at less than 80% of typical costs, cutting testing time by 50% or more. The Company’s global tester community ensures 24/7 on-demand availability and coverage across all major devices, operating systems, and languages. test IO was founded in 2011 and is based in Berlin, Germany with an office in Oakland, CA.
EPAM Systems (NYSE:EPAM) is a leading global provider of digital platform engineering and software development services offering specialized technological solutions to many of the world’s leading organizations. The company focuses on innovative and scalable software solutions, using industry standard and custom developed technology, tools, and platforms to deliver results to handle business challenges. The company primarily offers its solutions in the financial services, travel and consumer, software and hi-tech, and life sciences and healthcare industries.
About ox8 Corporate Finance
ox8 Corporate Finance is an independent corporate finance boutique founded in 2018 by experienced M&A specialists. Corporate finance advisory services are offered with a focus on M&A as well as Growth Capital in the Software/ SaaS, Digital Commerce, Technology/ IT services and Healthcare sectors. The team has an excellent international network to financial investors and strategic buyers. ox8 Corporate Finance has its office in Frankfurt am Main.