Element 34 from the canton of Schwyz has been taken over by the North American firm Banyan Software. The deal was announced by Banyan in a press release. The company, which is headquartered in Atlanta, Georgia, specializes in acquiring, expanding and scaling successful business software solutions. It is among the fastest-growing private enterprises in the USA and in 2021 was ranked in 10th place in the Technology Fast 500 by the business consulting firm Deloitte.
Founded in 2015 in Lachen, Element34 is a leading provider of on-premise computer programs for the Selenium grid infrastructure. According to the information in the press release, its flagship product Selenium Box enables companies to test the functionality of their web and mobile applications at scale across multiple browsers and mobile devices. The company’s clients include government organisations, global brand owners as well as several European banks and insurance companies.
In the words of co-founder Michael Palotas, Element34 sees Banyan as the “ideal partner” for the company’s future success, adding that “their unique ‘buy and hold for life’ strategy enables them to take a long-term view in order to maximise the potential for the company”. mm
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