App security co Checkmarx buys UK co Codebashing

Emmanuel Benzaquen Photo: PR

The Israeli company says it plans making more acquisitions.

Israeli application security testing solutions developer Checkmarx today announced the acquisition of UK startup Codebashing, an application security education company that delivers Game-like AppSec Training for Developers. No financial details were disclosed but sources close to the deal say it was for about $5-10 million.

Pioneering the idea of empowering developers to deliver secure applications, this acquisition allows Ramat Gan-based Checkmarx to introduce continuous, in-context, bite sized secure coding training. Effective training allows enterprises to grow their in-house security skills, which results in fewer vulnerabilities being introduced into code in the first place.

Codebashing delivers a hands-on interactive training platform built by developers for the needs of developers. Education gamification saves precious time and eliminates the need for expensive secure coding courses with irrelevant material, allowing organizations to implement secure coding training in a DevOps and CI/CD environment without impacting delivery timelines.

Founded in 2016 by CTO Maty Siman, Checkmarx raised $84 million in 2015 and has raised a total of $92 million. Checkmarx is expected to hold an IPO on Nasdaq later this year.

Checkmarx CEO Emmanuel Benzaquen said, “Checkmarx has been addressing the security skill challenge for over a decade and once we saw the value we can deliver to our customers by integrating Codebashing’s platform within our solution offering we knew this would be a game changer for the industry."

Codebashing cofounder and CEO John Yeo said, “We knew this was going to be an exciting journey for us when requests started pouring in. Large scale organizations like Microsoft, Fitbit and Sky and a whole host of other house-hold names across the tech, retailer, and financial institution verticals - have already implemented our solution to train, refresh and validate their developer’s secure coding techniques. We’ve been working with Checkmarx for a while now and our existing technology integration has proven to be a very natural fit for customers. The acquisition is an obvious force-multiplier, its superb for Codebashing’s future growth prospects, and fantastic for our customers.”

Checkmarx's mission is to help development organizations deliver secure applications faster. Amongst the company's 1,000 customers are 5 of the world's top 10 software vendors, four of the top American banks, and many Fortune 500 and government organizations, including SAP, Samsung, and Salesforce.com.

Codebashing will be integrated fully with Checkmarx products and sales team. This is the first purchase made by Checkmarx and the company intends making more such acquisitions.

Published by Globes [online], Israel business news - www.globes-online.com - on July 24, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

Emmanuel Benzaquen Photo: PR
Emmanuel Benzaquen Photo: PR
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