Veracode Acquired for $950M as Broadcom Closes CA Acquisition

[InfoSec News <alerts () infosecnews org>]

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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