ActiveState supports enterprise software developers in the secure creation and management of applications that use open source programming languages.
More than two million developers and 97% of Fortune-1000 companies including Toyota, GE Aviation, Pepsico and Siemens use ActiveState’s solutions to save time, minimize risk and accelerate time to market.
“ActiveState has a long history of product innovation and leadership, and we are now at an important inflection point,” added Bart Copeland, ActiveState President and CEO.
“We chose to partner with Vertu Capital because of their strong cultural alignment with our team, their enterprise software expertise, and their understanding of what it takes to scale and grow a complex but vital company like ours. We look forward to building the next chapter with them.”
ActiveState was founded in 1997 by local technology visionary Dick Hardt and was acquired by Sophos in 2003 for $23 million. Pender Financial Group purchased ActiveState from Sophos in 2006.
Earlier this year, Vertu Capital announced the close of its inaugural fund, Vertu Partners Fund I, with more than $300 million in capital commitments from a broad range of high-quality institutional investors.