/ THIS TRANSACTION
We are delighted to announce the successful completion of our latest transaction, advising Element34, a leading software provider of Selenium Grid automated testing focused on global enterprise clients, on its acquisition by Banyan Software group.
In this process, the founders of Element34 were seeking to find a partner with shared client-focused values and a track record of scaling software businesses. The acquisition allows Element34 to enter a new growth phase with plans to elevate SBOX to become global industry standard within the automated testing sector. Specifically, it will expand across Europe and the US, and strengthen its position as the leading enterprise provider of behind-the-wall Selenium Grid infrastructure.
Element34 was founded by Michael Palotas and Francois Reynaud, highly specialist developer-engineers who were among the original creators behind Selenium, the world’s largest open-source umbrella project for a range of tools and libraries aimed at supporting browser automation.
/ CIESCO'S ROLE
Ciesco was the exclusive sell-side advisor for Element34 and its shareholders and was selected based on its specialist sector expertise and strong network of senior-level buyer and investor relationships including Private Equity firms, leading technology groups, global software providers, financial, and trade buyers.
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