Hellman & Friedman is joined by TPG as it completes its acquisition of Checkmarx, to accelerate growth and advance its leadership position in the software security market
RAMAT GAN, ISRAEL – April 16, 2020 – Checkmarx, the global leader in software security solutions for DevOps, today announced that Hellman & Friedman (“H&F”) completed the acquisition of Checkmarx from Insight Partners in an all cash transaction valued at $1.15 billion. TPG has partnered with H&F and will hold a minority interest in the Company together with Insight Partners. TPG has invested in a number of high-growth cybersecurity businesses and will bring additional expertise to the Company as it continues its rapid pace of growth.
The deal represents the largest acquisition of an application security company to date.
Checkmarx enables organizations to deliver secure software faster by making security excellence intrinsic to software development. The Checkmarx Software Security Platform identifies and remediates vulnerabilities in software during development and leads the industry in facilitating automated security scanning as part of the DevOps process. With the transaction complete, Checkmarx will continue to scale the business, and deliver innovative products and unparalleled service to its global customers.
“Now, more than ever, security must be top-of-mind for us all. We are relentless in our mission to empower organizations to deliver secure software at scale,” said Emmanuel Benzaquen, CEO of Checkmarx. “Our partnership with H&F, TPG, and Insight Partners – three of the world’s top private equity firms – is the best possible validation of our vision, technology, and execution capabilities, all of which are aimed to make software and security inseparable. The team at Checkmarx is looking forward to this next phase of growth and to further advancing our leadership position in the software security market.”
Checkmarx was founded in 2006 and led since by Benzaquen and Maty Siman, Founder and CTO. The Company employs more than 700 employees and is trusted by over 1,400 customers in 70 countries.
About Checkmarx
Checkmarx is the global leader in software security solutions for modern enterprise software development. Checkmarx delivers the industry’s most comprehensive Software Security Platform that unifies with DevOps and provides static and interactive application security testing, software composition analysis, and developer AppSec awareness and training programs to reduce and remediate risk from software vulnerabilities. Checkmarx is trusted by more than 40 of the Fortune 100 companies and half of the Fortune 50, including leading organizations such as SAP, Samsung, and Salesforce.com. Learn more at www.checkmarx.com.
About Hellman & Friedman LLC
Hellman & Friedman is a preeminent global private equity firm with a distinctive investment approach focused on large-scale equity investments in high-quality growth businesses. H&F seeks to partner with world-class management teams where its deep sector expertise, long-term orientation, and collaborative partnership approach enable companies to flourish. H&F targets outstanding businesses in select sectors including software & technology, financial services, healthcare, retail & consumer, and other business services. Since its founding in 1984, H&F has raised over $50 billion of committed capital, invested in over 90 companies, and is currently investing its ninth fund, with $16.5 billion of committed capital. Learn more about H&F’s defining investment philosophy and approach to sustainable outcomes at www.hf.com.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.
About TPG
TPG is a leading global alternative asset firm founded in 1992 with more than $119 billion of assets under management and offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, and Singapore. TPG’s investment platforms are across a wide range of asset classes, including private equity, growth equity, real estate, credit, and public equity. TPG has invested in a number of high-growth cyber security businesses, including Zscaler and Tanium. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information, visit www.tpg.com.
Media Contacts
Cameron Martin
Public Relations Manager, Checkmarx
713-443-1772
Jessica Bettencourt
InkHouse for Checkmarx
774-451-5142