Thoma Bravo To Buy Veracode From Broadcom For $950 Mln In Cash

(RTTNews) - Private equity investment firm Thoma Bravo Monday said it has agreed to buy Veracode, a provider of application security testing, from Broadcom Inc. for $950 million in cash.

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

Veracode's SaaS platform and integrated solutions help security teams and software developers find and fix security-related defects at all points in the software development lifecycle.

"Software security is one of the most consequential issues facing companies as they look to compete in the digital economy. We are proud that our SaaS security platform combines multiple application security testing solutions, helping our customers around the world secure the software powering their companies and enabling them to focus on their core business objectives," said Sam King, current Senior Vice President and General Manager of Veracode, who will become the CEO of Veracode following the close of the transaction.