Insight Partners Sells Cybersecurity Leader Checkmarx at $1.15B Valuation

March 26, 2020

Willkie was lead counsel in Insight Partners’ sale of Checkmarx to Hellman & Friedman, the largest acquisition of an application security company to date.

On March 16, Checkmarx, a global leader in software security solutions for DevOps, announced that Hellman & Friedman will acquire the company from Insight Partners, which will continue to own a substantial minority interest. The deal represents the largest acquisition of an application security company to date.

Founded in 2006, Checkmarx is a global leader in software security solutions for modern enterprise software development. It employs more than 700 employees and is trusted by over 1,400 customers in 70 countries. The company is a leader in Application Security Testing with a robust suite of solutions for modern enterprise development. By bringing to light vulnerabilities within software solutions, Checkmarx is a critical ally to the developers and application security experts of the world’s leading brands discovering and reporting security threats before disaster strikes.

Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has cumulatively invested in more than 300 companies worldwide through a series of funds representing more than $20 billion in capital commitments.

Hellman & Friedman is a global private equity firm with an investment approach focused on large-scale equity investments in high-quality growth businesses, targeting businesses in select sectors including software & technology, financial services, healthcare, retail & consumer, and other business services.

Willkie represented Insight Partners as lead counsel in the transaction with a team led by partners Morgan Elwyn, Rosalind Kruse and Ziyad Aziz.