Hellman & Friedman Complete Purchase of Israeli Cybersecurity Company Checkmarx
Deal worth $1.15 bllion is the fund's largest acquisition of an application security company to date
TPG has partnered with H&F and will hold a minority interest in the Company together with Insight Partners Fund, which acquired a majority of the Israeli company in 2015 for $100 million. According to a statement, the deal represents the largest acquisition of an application security company.
Checkmarx was founded in 2006 by Maty Siman and Emmanuel Benzaquen and employs some 700 people across 70 countries. The company is active in the data security market for applications and focuses on automating code development, detection of security breaches during the development process, and testing code compliance with enterprise security requirements.
Hellman & Friedman is an American private equity fund focused on growth companies in the fields of technology, finance, health, and consumer goods. It was founded in 1984 and has since raised $50 billion and has invested in more than 90 companies to date.