Private equity firm Hellman & Friedman will acquire application security company Checkmarx from Insight Partners for a $1.15 billion valuation, the companies reported today. Insight Partners, which acquired Checkmarx in 2015 for $84 million, will continue to own a minority interest.
Tel Aviv-based Checkmarx was founded in 2006 by CTO Maty Siman, who continues to lead the organization with CEO Emmanuel Benzaquen. Its technology provides static and interactive application security testing, software composition analysis, and application security training and skills development so businesses can better detect vulnerabilities in their software. Checkmarx employs more than 700 employees and reports more than 1,400 customers in 70 countries.
Today's acquisition, which aims to further drive the company's growth, arrives at a time when businesses are placing stronger focus on secure software development. "As cybersecurity threats continue to intensify, we strongly believe that embedding security early in the software development lifecycle is critical," said H&F partner Tarim Wasim in a statement on the news.
Read the full release here.
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