Sitecore adds TCV as investor in the company

Sitecore, the Copenhagen, Denmark-based Web Content Management (WCM) software provider announced selling 40% of the company to TCV. The financial details of the transaction remain undisclosed.

TCV joins the existing group of shareholders of Sitecore Corporation consists mainly of the six founders who established the company in 2001 and who all still play an active role in the company.

In conjunction with TCV’s investment, David Yuan, TCV General Partner, will join the current Sitecore board of directors. Also joining the board will be Bob Burke, former CEO of Art Technology Group (ATG). There will be no changes to the Executive Board or to the Management Team in connection with the transaction.

Sitecore is one of the world’s leading providers of website content management and online marketing software. Sitecore covers more than 50 countries worldwide through its own companies and more than 700 certified partners, and almost 4,500 certified developers use Sitecore software. Customers include large corporations as well as governments and organizations that use innovative technology to interact with customers, citizens and members.