http://www.eweek.com/security/veracode-acquired-for-950m-as-broadcom-closes-ca-acquisition
By Sean Michael Kerner
eWeek.com
November 05, 2018
Application security firm Veracode is changing ownership once again.
On Nov. 5, private equity firm Thoma Bravo announced that it is acquiring
Veracode in an all cash deal for $950 million. Thoma Brava is acquiring
Veracode from Broadcom, which on Nov. 5 closed its $18.9 billion
acquisition of CA, that was first announced on July 11. The $950 million
price tag is a 55 percent gain over the $614 million that CA Technologies
paid to acquire Veracode in March 2017.
"The market for AppSec is growing rapidly, and the urgency for what we
have to offer has never been higher," Sam King, Senior Vice President and
General Manager of Veracode, told eWEEK. "At an advantageous time like
this, it is of great benefit to Veracode to once again become an
independent AppSec pure-play company. This combined with the expertise and
experience that Thoma Bravo has in cybersecurity gives us the ability to
accelerate our growth and product innovation, while continuing to nurture
the unique culture we always valued. "
Veracode was founded in 2006 and had operated as an independent entity
until being acquired by CA. As part of CA, the goal was to provide an
integrated DevSecOps pipeline for developers. Veracode's product portfolio
is comprised of application security technologies including Software
Composition Analysis (SCA), Dynamic Analysis (DAST) and Static Analysis
(SAST) capabilities. Sam King, current Senior Vice President and General
Manager of Veracode, will become the CEO of Veracode following the close
of the transaction, which is expected to be completed in the fourth
quarter of 2018.
King said that while at CA, the Veracode business unit was focused on
applications security exclusively and had a dedicated team carrying out
product development as well as go to market functions. She added that the
same team will continue to function as a business unit of Broadcom until
the deal closes between Broadcom and Thoma Bravo.
[...]
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