Careful preparation for sale, and waiting for the right window, paid off for a pair of Agile software innovators.
Orca’s Norman Duffett advised the sale of Danube Technologies, Portland, OR to Collabnet, Brisbane, CA developer of cloud-based lifecycle management tools. Danube was the worldwide leader in Scrum project management solutions, offering the industry-leading ScrumWorks Pro software for Agile project and program management, and a world class roster of trainers and consultants.
Norm first met Lazlo and Victor Szalvay, Danube founders, in their company’s early stages. The Szalvays knew where they were headed, yet from infrastructure to strategic planning, they knew they had room to mature. They sought Norm’s informal coaching for six years. Danube had a solution that confronted the documented challenge of vast cost and time pressures in software development with the paradigm-changing Agile approach, enabled by their unique software.
Step by step, the Szalvays built Danube. With Liz Duffett’s guidance, they prepared a well-considered strategic plan to address their exploding market, and lived by it. They had their house in order. They had audited financial statements, a robust well documented infrastructure, a clear capital structure, and an eloquent presentation of their unique story by the time they decided that it was now the right window to sell their enterprise.
With Norm Duffett’s guidance, a targeted roster of acquirers was assembled. The sale of Danube Technologies Inc. to CollabNet was strategically compelling. Together, Danube and CollabNet assisted more software development teams with collaborative, distributed, and Agile ALM projects than any other company in the world. CollabNet’s valuation of the future opportunity was reflected in the price they paid.