David Cobb

On June 20th, we announced a very important and strategic merger with a company called Tricentis.

And so it's been a very exciting nearly two months now since that announcement.

Tricentis is very complementary to QA Symphony, whereas we do focus on a test case management solution, more manual testing focused.

Tricentis has multiple products, but

has especially well known for their automated solution called Tosca, which is in the top quadrant at Gartner.

And so we not ironically have the same investor.

So Insight Venture Partners, which is one of the largest software investors in the world, have just recently raised a $6.5 billion fund, had been investors and continues to be investors in both organizations.

So our board will remain essentially the same.

And we're coming together.

We expect to close that deal legally in early September.

and come together as one cohesive company by the end of the year.

Insight played a key role, as you alluded to.

And really, there was interest both sides.

So they saw that Tricentis was very strong in Europe, moving into the US, very strong in selling to the C-level, very strong with systems integrators.

They saw that QA Symphony had

almost all of its business in the U.S.

and was trying to break into Europe.

And that was an important growth area that we were more selling into the user base and trying to move up.

And so it was extremely complimentary.

And really what the big picture is, though, is the space, like many software spaces, is shifting away from kind of older, antiquated legacy software providers to more modern providers.