Analytics

11/5/2018
02:40 PM
Connect Directly
Twitter
LinkedIn
Google+
RSS
E-Mail
50%
50%

Thoma Bravo Buys Veracode

Broadcom will sell Veracode, acquired last year by CA, for $950M to Thoma Bravo as it broadens its security portfolio.

Thoma Bravo today announced it will acquire Veracode from Broadcom, which has officially closed its purchase of CA Technologies and plans to sell its application security platform for $950 million in cash.

Veracode provides a software-as-a-service platform to detect and address security issues during the software development lifecycle. Its Application Security Platform is geared toward enterprise pros looking to manage risk posture across their application portfolio.

CA acquired Veracode in 2017 for $614M in an effort to strengthen its position in secure application development. The plan at the time was to bring together CA's security and DevOps portfolios with a SaaS platform that could integrate security into software development.

When Broadcom agreed to acquire CA for $18.9 billion in cash earlier this year, Veracode was part of the deal. Broadcom's goal in buying the enterprise software firm was to improve its enterprise focus, add recurring revenue, and channel its focus on infrastructure technology. Now, with the purchase completed, it's selling the company CA acquired a little over a year ago.

Thoma Bravo will buy Veracode in a transaction expected to close in Q4 2018. This marks the latest enterprise security investment for the private equity firm, which is known in the cybersecurity industry because of the value of companies it buys and investmetns in makes. It's not a technology vendor, but its portfolio of software companies has revenues totaling $3.0B.

The private equity firm, which focuses on application and infrastructure software, has now acquired more than 30 security firms. In October 2018 it agreed to acquire Imperva for $2.1B. A few months before, it completed a majority investment in identity and access management platform Centrify; in July, it completed a majority investment in LogRhythm's security information and event management platform.

Other companies in Thoma Bravo's portfolio include SailPoint, Barracuda Networks, Bomgar, BlueCoat Systems, SonicWall, and Entrust. It also has invested, and been involved with decision-making in, businesses including McAfee, Dynatrace, Kofax, and Digital Insight.

Veracode's current senior vice president and general manager, Sam King, will become the company's CEO as part of the Thoma Bravo acquisition. She anticipates the deal will broaden Veracode's reach; right now, the company has more than 2,000 customers, it reports.

"Partnering with Thoma Bravo, a proven security software investor, is expected to extend our market reach and further fuel our innovation so that we can offer the broadest software security platform and empower us to accelerate growth — all to allow us to transform the way companies achieve their software security goals," King says in a statement.

Related Content:

Black Hat Europe returns to London Dec 3-6 2018  with hands-on technical Trainings, cutting-edge Briefings, Arsenal open-source tool demonstrations, top-tier security solutions and service providers in the Business Hall. Click for information on the conference and to register.

Kelly Sheridan is the Staff Editor at Dark Reading, where she focuses on cybersecurity news and analysis. She is a business technology journalist who previously reported for InformationWeek, where she covered Microsoft, and Insurance & Technology, where she covered financial ... View Full Bio

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
RyanSepe
50%
50%
RyanSepe,
User Rank: Ninja
11/6/2018 | 9:24:27 AM
Interesting Development
This is interesting. I think it points out how different ELT's view current markets. CA thought Veracode would be a good acquisition and then within a year Broadcom thinks differently.
How the US Chooses Which Zero-Day Vulnerabilities to Stockpile
Ricardo Arroyo, Senior Technical Product Manager, Watchguard Technologies,  1/16/2019
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Current Issue
The Year in Security 2018
This Dark Reading Tech Digest explores the biggest news stories of 2018 that shaped the cybersecurity landscape.
Flash Poll
How Enterprises Are Attacking the Cybersecurity Problem
How Enterprises Are Attacking the Cybersecurity Problem
Data breach fears and the need to comply with regulations such as GDPR are two major drivers increased spending on security products and technologies. But other factors are contributing to the trend as well. Find out more about how enterprises are attacking the cybersecurity problem by reading our report today.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2019-3906
PUBLISHED: 2019-01-18
Premisys Identicard version 3.1.190 contains hardcoded credentials in the WCF service on port 9003. An authenticated remote attacker can use these credentials to access the badge system database and modify its contents.
CVE-2019-3907
PUBLISHED: 2019-01-18
Premisys Identicard version 3.1.190 stores user credentials and other sensitive information with a known weak encryption method (MD5 hash of a salt and password).
CVE-2019-3908
PUBLISHED: 2019-01-18
Premisys Identicard version 3.1.190 stores backup files as encrypted zip files. The password to the zip is hard-coded and unchangeable. An attacker with access to these backups can decrypt them and obtain sensitive data.
CVE-2019-3909
PUBLISHED: 2019-01-18
Premisys Identicard version 3.1.190 database uses default credentials. Users are unable to change the credentials without vendor intervention.
CVE-2019-3910
PUBLISHED: 2019-01-18
Crestron AM-100 before firmware version 1.6.0.2 contains an authentication bypass in the web interface's return.cgi script. Unauthenticated remote users can use the bypass to access some administrator functionality such as configuring update sources and rebooting the device.