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Analyst firm Gartner and others have consistently ranked Veracode among the leaders in the application security testing market. The company's portfolio of tools for SAST, DAST, and secure code analysis is designed to help organizations integrate security testing into their software development process.
CA Technologies acquired Veracode last year for $614 million and was working on integrating the security vendor's software with its own portfolio of security and DevOps tools. However, Broadcom, which announced plans to buy CA for $18.9 billion this past July and closed the transaction Nov. 5, has now sold Veracode to private equity investment firm Thoma Bravo for $950 million in cash.
The move means that Veracode will likely operate once again as an independent vendor, backed by an investment firm with extensive investments in the cybersecurity space. Sam King, who is currently senior vice president and general manager of Veracode, will become CEO of the company once the acquisition is completed this quarter. She expects the transition will better position Veracode to extend its market reach and fuel innovation at the company.