WANdisco, the Sheffield and Silicon Valley-based software group, has made its first acquisition after raising £10 million by floating on the Alternative Investment Market.
The company is paying German software company Syntevo $1 million – around £616,000 – for its SmartSVN software.
It is used by software developers at more than 2,500 companies, including many Fortune Global 500 companies.
WANdisco says SmartSVN complements its own uberSVN software, which is used by software engineers in offices around the world, who are developing different features of the same packages and need to ensure they are all working on the same version.
David Richards, WANdisco’s Sheffield-born chairman and chief executive, said: “I am delighted that we have completed the agreement to purchase SmartSVN.
“It is proven in the marketplace and the feedback from our existing customers, who have used it for years, has been excellent.”
WANdisco says acquiring SmartSVN will enable it to offer a more complete software solution.
It will create opportunities to cross-sell its products and allow it to start targeting the small and medium-sized enterprise market, as well as large corporations.