Keynote Pays up to $90m for DeviceAnywhere

US-based Internet and mobile monitoring specialist Keynote Systems has bought DeviceAnywhere, which offers testing and monitoring of mobile web sites and apps via a cloud-based platform. The deal is valued at c.$60m in cash, plus up to $30m based on future earnings.

San Mateo, California-based DeviceAnywhere provides products for testing and monitoring the functionality, usability, performance and availability of mobile apps and web sites. The firm has just released the Device Planner solution, which helps clients analyse and assess the best devices and mobile operating systems for their content, based on target audience, performance requirements and market coverage.

Keynote CEO Umang Gupta (pictured) says the buy will help his firm expand into the mobile testing and quality assurance space.

Following its sale, DeviceAnywhere will continue to be led by its co-founders, CEO Faraz Syed and CTO David Marsyla, and will operate as a standalone subsidiary, although its 119 employees will move to Keynote's nearby HQ next year.

The deal is valued at $60m in cash, plus the potential to earn up to $30m if 2011 and 2012 targets for bookings, revenue and EBITDA are achieved.

Gupta adds: 'We welcome DeviceAnywhere's talented employees to Keynote, and are especially pleased that industry pioneers Faraz and David will continue to provide expertise, vision and leadership by heading up our new Keynote-DeviceAnywhere division.'

Web sites: www.keynote.com and www.deviceanywhere.com .