Change automation software maker Serena Software, Inc., of California agreed to acquire British content management player Merant for the equivalent of $380 million in cash and stock, pending regulatory and shareholder approvals.The acquisition will create the second largest provider of "enterprise change management" software products, Serena says, with a combined installed base of over 15,000 customers. "The acquisition of Merant brings together two of the leading companies meeting the ECM needs of many of the largest companies in the world," says Mark Woodward, president and CEO of Serena. "As each of us has complementary technologies and similar visions for future growth, the combination makes perfect business and financial sense." Merant Chief Executive Gerald Perkel has agreed to join Serena's board, San Mateo, California-based Serena said.