Thoma Bravo to Acquire Veracode Software from Broadcom

veracodeThoma Bravo, a private equity investment firm, is to acquire Veracode, a Burlington, MA-based provider in next-generation application security testing (AST), from Broadcom Inc. for $950m in cash.

The transaction is expected to close in the fourth quarter of 2018, subject to usual and customary closing conditions and regulatory approvals.

Currently, a division of Broadcom, Veracode’s SaaS platform and integrated solutions enables security teams and software developers to find and fix security-related defects at all points in the software development lifecycle.
With broad language, framework, and testing technology coverage, the company’s application security platform offers a holistic, scalable way to manage security risk across an entire application portfolio.
Veracode currently serves more than 2,000 customers across a wide range of industries.

The partnership with Thoma Bravo is expected to support the company’s future operational and product development plans.
Sam King, current Senior Vice President and General Manager of Veracode, will become the CEO of Veracode following the close of the transaction.



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