Service: Vendor Due Diligence
Industry: Software Provider
Participants: Element34, Banyan Software
Intechnica provided Vendor Due Diligence to Element34 Solutions GmbH ahead of their recent acquisition from Banyan Software group.
Element34, the Switzerland-based provider, was founded in 2015 by highly specialized developer engineers, Michael Palotas and Francois Reynaud who were both among the original creators behind Selenium, the world’s largest open-source project. Its propriety product, SBOX is the only global, 100% behind-the-firewall solution with high security, scalability and performance needs.
The acquisition allows Element34 to enter a new growth stage with plans to elevate SBOX across Europe and the US whilst strengthening its position as an industry leader in behind-the-wall Selenium Grid infrastructure.
Thanks to Elizabeth Hyde, Fiona Fairbairn, Lewis Taylor and David Bamber for their hard work on this project.
It was clear to us from the start that Ciesco were the best placed advisors to guide us on this journey through to deal completion. The team provided us with amazing support throughout the entire process and ultimately delivered a fantastic outcome, not only for myself and Francois, but for everyone involved in the transaction. A huge part of this success was due to the hard work and commitment of the Ciesco team.
It was amazing to see the high level of interest in our business, and in Banyan Software, we have a partner that can help elevate Element34 and SBOX to the next level.
Michael Palotas, Co-founder at Elements34
We are thrilled to have advised Element34 and its shareholders during this process; Element34 has gained an excellent partner in Banyan Software which will help drive the growth of the business and establish SBOX as the industry standard for automated software testing.
I am confident that this partnership will deliver sustainable growth that can help expand Element34’s global presence. This is a great outcome for Element34’s management team, employees, and clients and we are excited to see what the future holds for the group.
Chris Sahota, CEO and Co-founder at Ciesco
