Private equity (PE) fund Vista Equity Partners has acquired cybersecurity firm Sonatype, in the latest PE swoop on a security company.
Sonatype, which provides software supply chain security and automation tools, boasts a user base of 10 million software developers across the globe.
It says it has seen annual revenue growth close to 250 percent over the past three years and is used by eight of the top 10 US and European banks.
Read More: Five Questions with… Sonatype CTO Brian Fox
The deal comes a month after PE fund Thoma Bravo moved to acquire the UK’s Sophos for over £3 billion in cash, and amid a flurry of deals this year.
The Maryland-based firm says it will use the investment to ‘fast-track’ growth and improve its Nexus platform, an enterprise repository library and manager tool that can analysis open-source components.
Wayne Jackson, CEO of Sonatype commented: “Vista’s standing as the preeminent investment firm and their commitment to growth and innovation perfectly aligns with our passion for helping businesses build software faster and more securely. This acquisition is a testament to our outstanding team and clear validation of our vision, strategy, and execution in empowering developers to leverage the power of open source, while optimizing the hygiene of their software supply chain.”
Sonatype Purchased by Private Equity Firm
Vista Equity Partners is a US-based private investment firm that claims to have just over £40 billion in cumulative capital commitments. It has previously invested in technology companies such as Ping Identity, SecureLink and Fusion Risk Management.
Rather than be an arm’s length investor Vista Equity Partners says they bring a long-term perspective that supports companies at different levels in order to fully develop assets and platforms. Sonatype says it has more than 300 employees and 1,000 enterprise customers.
