Sept 13 (Askume) – Private equity firm Insight Partners is considering selling Tricentis, according to four people familiar with the matter. They expect the developer-application software provider to be valued at more than $4 billion.
Sources said InsightInvestment bank Evercore is working with EVr.N to solicit interest from potential buyers, including other private equity firms .
Insight Partners may decide to retain a minority stake in the company, one of the sources said.
The sources cautioned that the sale is not guaranteed and spoke on condition of anonymity to discuss confidential information.
Insight, Tricentis and Evercore did not respond to requests for comment.
Austin, Texas-based Tricentis provides software that helps enterprise development teams use artificial intelligence to fully automate the software testing process.
The company said it has more than 2,500 clients, including Accenture, Coca-Cola and Nationwide Insurance Company.
Tricentis has revenue of $430 million, one source said, and is expected to grow 24% in 2025. The business’s earnings before interest, tax, depreciation and amortization were about $86 million, the sources said.
Tricentis was founded in Vienna, Austria, in 2007. Insight Partners invested in the company in 2017 and raised $165 million.
