Broadcom is selling CA Technologies' Veracode application security testing platform to private equity firm Thoma Bravo for $950 million in cash.
The sale comes as Broadcom announced that it closed its acquisition of CA Technologies, which has raised a few eyebrows among analysts. CA Technologies acquired Veracode in March 2017. The idea behind the Veracode purchase was to blend application development and security.
Veracode, now a division of Broadcom via the CA Technologies purchase, offers a software-as-a-service platform to find and fix security defects. CA Technologies initially acquired Veracode for $614 million and then followed up with the purchase of SourceClear.
According to a statement, the deal is expected to close in the fourth quarter. Sam King, current general manager of Veracode, will become CEO of the company when the Thoma Bravo purchase closes. Thoma Bravo has completed more than 30 acquisitions in enterprise security including BlueCoat Systems, Barracuda Networks and SonicWall.
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