HGGC to sell Serena Software for $540 mln

HGGC said Tuesday it agreed to sell Serena Software to Micro Focus International plc at an enterprise value of $540 million in cash. San Mateo, California-based Serena provides IT application development and deployment solutions. Serena will be the first exit out of HGGC’s second fund, which closed at $1.33 billion in March 2015.

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