Thoma Bravo buys Veracode from Broadcom for $950 million

Thoma Bravo, completed its previously announced acquisition of Veracode Software, a provider in next-generation application security testing (AST), from Broadcom in an all-cash transaction valued at $950 million.

Veracode's SaaS platform and integrated solutions assist security teams and software developers with finding and fixing security-related defects throughout the software development lifecycle. Veracode's innovative approach allows its rapidly growing customer base to identify and resolve critical vulnerabilities while ensuring regulatory compliance without sacrificing speed or innovation.

"At a time when the need for application security could not be any greater, we are pleased to be partnering with Thoma Bravo, an investment firm that has a strong track record in security and that recognizes the importance of fueling continued innovation to further extend our leadership position," said Sam King, CEO, Veracode. "The team at Veracode is excited about this next phase in our journey, and we are looking forward to continuing our mission of securing the world's software and helping security teams and developers create great software that is also secure software."

Thoma Bravo noted its extensive experience investing in the cybersecurity software sector. It has completed more than 30 total acquisitions of enterprise security companies to date, including SailPoint (NASDAQ: SAIL), Barracuda Networks, LogRhythm, Bomgar, BlueCoat Systems, SonicWall and Entrust.