Detroit — The changes continue for Detroit-based Compuware Corp.
The downtown computer technology company said Wednesday that it’s selling its Changepoint, Professional Services and Uniface business units for $160 million to Marlin Equity Partners, a Los Angeles-based private equity fund.
The transaction is expected to close in January, company officials said Wednesday.
Changepoint employs seven workers in Detroit; Professional Services employs 621; and Uniface employs five. The Detroit workers and the rest of the companies’ staff will keep their jobs, said Lisa Elkin, Compuware’s vice president of investor relations and communications
"The action we announced today represents another step in the strategic transformation we embarked on just a few years ago," said Bob Paul, Compuware’s president and CEO, in a statement. "This development, combined with our cost-cutting initiatives, will accelerate the pace of the company's topline revenue growth and result in future profitability gains.
“Changepoint, Professional Services and Uniface are solid businesses and were important components of the company's evolution. This move will enable them, as independent operating units, to flourish.”
Marlin Equity Partners, a global investment firm headquartered in Los Angeles, will collaborate with Compuware “to ensure a smooth transition, so that customers enjoy uninterrupted service and continue to receive the full value of their investments in the affected solutions and services,” according to a Compuware statement.
“As for Compuware, we now turn our full operational focus toward extending our APM leadership position and strengthening our mainframe business by driving enhanced innovation into our world-class solutions that in turn deliver superior value to our customers,” Paul said.
The move comes after a year of leadership shakeups and takeover offers for the company.
Last January, Compuware rejected a takeover bid by New York-based hedge fund Elliott Management Corp., which offered to buy the company for $11 a share.
Since then, Compuware has continued to field takeover offers amid calls from some investors to sell itself and make strategic changes.
Compuware added four new board members in 2013, and fired founder Peter Karmanos Jr. from a consultant position he took after stepping down as executive chairman.