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Serena Software auction continues as Attachmate exits: sources

26
Nov
2013

By Greg Roumeliotis and Nicola Leske NEW YORK (Reuters) – Private equity firm Silver Lake is proceeding with an auction for its information technology management company Serena Software Inc after talks aimed at selling Serena to its technology peer Attachmate Corp ended, according to people familiar with the matter. Silver Lake is now in talks with a small number of specialist buyout firms, including Veritas Capital Fund Management LLC and Platinum Equity LLC, about selling its majority stake in Serena, the people said. A sale could value Serena Software at between $500 million and $700 million, much less than the $1.2 billion valuation Silver Lake placed on it when it took it over in 2006, the people said.

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