On November 7, 2023, Vertu Capital, specializing in global software and technology investments, has completed the acquisition of ActiveState Software Inc., a Vancouver-based enterprise software development company. ActiveState focuses on secure management of applications using open source programming languages for enterprise developers.

This acquisition responds to the rising complexity and security risks in managing open source supply chains in software development. In 2023, the frequency of software supply chain attacks equaled the total of the previous four years, highlighting the growing need for secure open-source integration platforms like ActiveState's. The company's platform is increasingly essential for 97% of Fortune 1000 companies, aiming to enhance developer productivity while ensuring compliance with security requirements.

Gil Nayot, Partner at Vertu Capital, expressed enthusiasm for partnering with ActiveState, citing its strong track record, proprietary technology, and significant market potential. Bart Copeland, President and CEO of ActiveState, emphasized the company's history of innovation and the strategic alignment with Vertu Capital, valuing their expertise in scaling complex enterprises.

Peter Lee, a seasoned tech founder and operator with over two decades of experience, has been appointed as the Chair of ActiveState's board. Lee anticipates collaborating with ActiveState to capitalize on their unique market opportunity, especially in managing complex, open-source supply chains, a rapidly growing necessity for businesses.