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Tools maker Serena acquires Merant

Development tools maker Serena Software acquires fellow tools company Merant in a cash-and-stock transaction valued at about $380 million.

Development tools maker Serena Software acquired on Wednesday fellow tools company Merant in a cash-and-stock transaction valued at about $380 million.

San Mateo, Calif.-based Serena makes so-called enterprise change-management software, which allows teams of programmers to make changes to applications during different phases of the development process. Merant, based in Hillsboro, Ore., sells a similar product line, including tools for managing versions of source code files.

Company executives said the combination will help accelerate the two companies' plans to offer so-called application lifecycle management, an integrated suite of tools for managing development-related content, such as documents that define application requirements.

Robert Pender, chief financial officer at Serena, said the two companies' products are complementary because Serena's software works with mainframe systems while Merant's products are aimed at other operating systems, such as Windows and Linux.

Pender said Serena intends to eliminate areas of overlap, such as administrative positions, that exist between the two companies. Merant is listed on both the Nasdaq in New York and the London Stock Exchange. Once the companies merge, Serena can save money by not listing in both exchanges, Pender said.

Serena has about 350 employees while Merant has about 540 employees. Combined, the two companies would have had about $225 million in revenue last year.