TPG Capital has signed a definitive agreement to acquire CollabNet, from Vector Capital. The transaction is subject to customary closing conditions. Terms of the acquisition were not disclosed.

CollabNet is a software development platform company. The investment marks the first step in a broader strategy in which TPG Capital will commit up to $500 million of equity capital to build an integrated, enterprise-focused DevOps platform company, said TPG in a statement.

Barclays and RBC Capital Markets acted as financial advisors to TPG Capital, and Ropes & Gray served as legal counsel. KeyBank Capital Markets served as financial advisor to CollabNet, and Sidley Austin served as legal counsel to CollabNet and Vector Capital.

[Image courtesy: CollabNet]