Keynote Systems, a provider of Internet and mobile cloud monitoring, signed a definitive agreement to acquire privately-held Mobile Complete, doing business as DeviceAnywhere, an enterprise-class cloud-based platform for testing and monitoring mobile Web sites and apps, for approximately $60 million in cash plus a potential earn-out.
Umang Gupta, chairman and CEO of Keynote, said: "Combining DeviceAnywhere's leading testing and quality assurance (QA) cloud-based solutions with our strong mobile monitoring business firmly establishes Keynote as a leader in the mobile testing and monitoring markets. The resulting increased product breadth and scale meaningfully enhance our competitive position. In addition, the acquisition will expand our addressable market into the immediately adjacent enterprise mobile testing and quality assurance space, which we project, could enable us to grow this into a $100 million business."
DeviceAnywhere provides cloud-based products and services for testing and monitoring the functionality, usability, performance, and availability of mobile apps and Web sites. More than 1,200 organizations rely on the DeviceAnywhere platform to accelerate the entire QA lifecycle to deliver mobile applications, content, and services faster, with more confidence about quality of service, while reducing downtime and testing costs.
Also based in San Mateo, Calif., DeviceAnywhere will continue to be led by its co-founders Faraz Syed, CEO, and David Marsyla, its chief technology officer, and will operate as a stand-alone subsidiary after the transaction. Most of DeviceAnywhere's 120 employees are expected to join Keynote at its San Mateo offices.
Gupta added, "We welcome DeviceAnywhere's talented employees to Keynote. We are especially pleased that industry pioneers Faraz and David will continue to provide expertise, vision, and leadership by heading up our new Keynote-DeviceAnywhere division."
Syed, said, "DeviceAnywhere's team is excited to be joining Keynote at a time when the enterprise mobile industry is beginning to accelerate. Our complementary offerings provide a full gamut of options for our existing and prospective customers, and we look forward to working with Keynote to increase our combined share in this dynamic market."