Simpson Thacher is representing Hellman & Friedman (“H&F”) on the proposed acquisition of Checkmarx Ltd. (“Checkmarx”) from Insight Partners (“Insight”) at a valuation of $1.15 billion. The deal represents the largest acquisition of an application security company to date. The transaction is subject to completion of customary closing conditions.
Checkmarx is the global leader in software security solutions for modern enterprise software development. Checkmarx delivers a 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.
Insight Partners will continue to own a substantial minority interest in Checkmarx.
The Simpson Thacher team includes Kathryn King Sudol, Naveed Anwar, Atif Azher, Usman Arain, Mark Myott, Sherry Shen, Megan Whitman and Estell Lee (M&A); David Rubinsky, Jeannine McSweeney, Joo Hyun Lee and Emily Manns (ECEB); Marcela Robledo and Corina McIntyre (IP); Tyler Robbins and Zachary Fialkow (Tax); Brian Steinhardt and Matthew Farrell (Finance); and Timothy Mulvihill (Environmental).