Thoma Bravo acquires Veracode for $950m

Thoma Bravo, an American private equity investment firm based in San Francisco and Chicago, has completed its acquisition of Veracode, the leading provider of next-generation application security testing (AST) for a $950m (£755m) deal, according to a press release.

According to Thoma Bravo, this acquisition enables Veracode to sustain its position as one of the most prominent providers in the AST marketplace.

Seth Boro, a managing partner at Thoma Bravo, said: “We are excited to be partnering with the Veracode leadership team to build upon this strong foundation and continue to drive innovation for customers.”

Veracode is currently owned by U.S based chipmaker, Broadcom, which acquired the business as part of its blockbuster acquisition of CA Inc. CA technologies signed an agreement to acquire Veracode last year for $614m (£466m).

Thoma Bravo has been increasing its interest in technology firms after raising $2.4bn (£1.8bn) in April 2018.

Last month Thoma Bravo agreed to buy Imperva Inc for $2.1bn in cash, while in July it acquired stakes in Centrify Corp.

Thoma Bravo also owns other cybersecurity companies DigiCert Inc, Bomgar Corp and LogRhythm Inc.

The deal between Thoma Bravo and Veracode is expected to close in the fourth quarter of 2018, subject to the satisfaction of customary closing conditions.

 

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