Equity firm Thoma Bravo acquires Veracode Software for USD 950 million

Private equity company Thoma Bravo have acquired cybersecurity firm Veracode Software for USD 950 million in an all-cash deal. With this acquisition, Thoma Bravo seek to diversify their product portfolio by investing in a sector that is growing year-on-year, as a result of increasing demand for cybersecurity products.

According to Thoma Bravo, enterprises need a stable software that can fight virus attacks and protect their critical business data. They say that as enterprises build applications in the cloud, they will need robust infrastructure as well as a strong incident response team that can assure the security of their data.

By acquiring Veracode Software for USD 950 million, Thoma Bravo believe that they can allow enterprises to detect security related issues throughout the software development life-cycle. They claim that enterprises will be able to resolve critical vulnerabilities while ensuring regulatory and compliance without sacrificing speed or innovation.

Sam King, CEO at Veracode believes that testing for application security is a must for enterprises as much as protecting the data is. He claims that if enterprises are leaving no stone unturned when it comes to cybersecurity, investment companies also need to show the enthusiasm to deliver this customer need.

It will be interesting to see how Thoma Bravo make the most of this deal, following Blackstone’s acquisition of Cloudreach.