Incredibuild acquires German startup Garden in $65M deal, but trims staff by 11%
Incredibuild acquires German startup Garden in $65M deal, but trims staff by 11%
The German startup’s open-source tools help developers to speed up CI pipelines, increasing deployment frequency and shortening development cycles. At the same time, Incredibuild began the process of laying off 18 employees.
Israeli company Incredibuild, which develops technology to accelerate software development processes, is acquiring the German company Garden. Calcalist has learned that the acquisition amount will be approximately $65 million, paid in cash and shares. Concurrently, Incredibuild has initiated a layoff process, reducing its workforce in Israel by 18 employees, about 11% of its team, while hiring employees for the acquired company’s team.
At the end of 2023, Incredibuild had previously gone through a layoff round, letting go dozens of employees. The company currently employs around 150 people globally; following this round, approximately 130 employees will remain. Incredibuild operates branches in Israel, the USA, China, Japan, and Ukraine and has raised $55 million to date from investors including Hiro Capital, Insight Partners, and Fortissimo.
Sources close to the deal say the layoffs are necessary to adapt Incredibuild's technological capabilities and market strategy to the new structure after the acquisition.
Integrating Garden’s technology into the Incredibuild platform will enable customers to significantly reduce development times, enhancing efficiency from the development phase to production. "The acquisition of Garden advances our goal of taking the pain out of long development cycles," said Tami Mazel Shachar, CEO of Incredibuild. "Customers have long complained that CI pipelines are slow, complicated, and hard to manage, so we are excited to now accelerate the entire CI process. Garden's expertise streamlining CI pipelines and environments aligns perfectly with our mission: Accelerating every aspect of software development."
Founded in 2018 and based in Berlin, Garden has around 12 employees in development roles. The company’s open-source tools help developers to speed up CI pipelines, increasing deployment frequency and shortening development cycles. By joining forces with Incredibuild, Garden will enhance Incredibuild's ability to accelerate the entire software development lifecycle.
"What excites me most is our shared passion for making devs faster, and how together, we provide a complete suite of tools to help developers worldwide," said Jon Edvald, CEO of Garden. "Incredibuild's acceleration technology, combined with our unique approach to CI and DevOps, means we're embarking on a relentless mission to accelerate pipelines in every way, including changing developers' interactions with automation across the development cycle. We have two extremely powerful products, and united, the whole is even greater than the sum of its parts."
