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Compuware Corp. (Nasdaq: CPWR) plans to acquire Gomez Inc. for $295 million cash, the two companies announced today, shelving Gomez’ plan for an initial public offering of stock (IPO). The acquisition is expected to close next month.
Detroit-based Compuware plans to add Gomez’ web application testing software to its current offering of enterprise software analytics and performance management products. While Compuware has focused on software applications used on enterprise servers, Gomez’ products are designed to handle cross-browser testing, web load and performance testing, web performance management and business analytics related to web performance.
Lexington-based Gomez has been in an IPO holding pattern since filing papers for a public stock offering last May. Financial reports filed since then indicate the company reached profitability for the first time in the first half of 2009.
In the first half of 2009, Gomez earned $26.6 million in revenue, according to its SEC filing — an increase of 25.6 percent over the same period in 2008. The growth resulted in net income of $1.9 million for the first six months of 2009. Gomez lost $868,000 in the same time period of 2008.
Compuware intends to retain “substantially all” of Gomez’ 272 global employees, according to a press release from the companies.
The move appears to represent a successful exit for Gomez backers ABS Ventures, AdAstra, Dolphin Equity Partners and Doughty Hanson & Co. Since its founding in 1997, the investors have put $66 million into Gomez.
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