UpdatedCollabNet is expanding its cloud-based software development tools today with the acquisition of Danube, a company that sells software for Scrum project management.
Scrum is a method for managing development that breaks a project down into multi-week sprints. It's particularly suited to projects where the customer's needs are changing or uncertain, but CollabNet chief executive Bill Portelli said it has become "the de facto method of managing software projects." CollabNet, meanwhile, allows development teams in separate locations to collaborate by using cloud-based infrastructure and tools. By combining CollabNet and Danube services, Portelli said his company can help remote teams, wherever they are, use Scrum methods to work together.
Danube President Laszlo Szalvay added that prior to the acquisition, his company had considered raising funding to building a development platform like CollabNet's, but that combining forces makes more sense. "The market would have come and gone" by the time the company had managed to raised venture money, he said.
The terms of the deal were not disclosed, and Szalvay would only say that the Danube team "couldn't be happier" with the terms.
I don't have specifics yet on either CollabNet or Danube's venture funding, but CollabNet's backers include Benchmark Capital, Norwest Venture Capital, and Intel Capital. CollabNet has 2,500 customers, and both companies are profitable, Portelli said.
Update: CollabNet says it has raised a total of $61 million in funding. Danube was bootstrapped.