US software company acquires Element34

Founded in 2015, Element34 is the leading provider of on-premises Selenium Grid infrastructure. Its flagship product, Selenium Box (SBOX), allows enterprises with high security, scalability and performance to test the functionality of their web and mobile applications across multiple browsers and mobile devices at scale. Customers include government organizations, global brand owners, leading European banks, and insurance companies.

The company has now been acquired by Banyan Software, one of North America’s fastest-growing private companies with employees and operations in USA, Canada, Australia, New Zealand, United Kingdom, Germany and Switzerland. Banyan is on the Inc. 5000 list of the fastest-growing private companies for the second consecutive year and was ranked 10th on Deloitte’s 2021 Technology Fast 500.  Founded in 2016 and backed by a world-class group of software operators, the company acquires, builds and grows enterprise software businesses with dominant positions in niche markets. Banyan is focused on a long-term buy-and-hold-for-life strategy of profitable, growing software companies that serve specialized vertical markets, with annual revenues between $2m and $30m.

“We are delighted to announce this acquisition with Banyan, who we see as the ideal partner for Element34’s future success. Their unique ‘buy and hold for life’ strategy enables them to take a long-term view to maximise the company's potential. Their team’s expertise in scaling B2B software businesses globally was evident from the outset, and we’re truly excited to be working with them in the coming years.”

The Element34 acquisition follows the acquisition of further European companies, including Clockwork IT, bringing the Banyan UK and European headcount to roughly 100 full-time employees.

(Pres release/RAN)