CA Technologies on Monday announced it's acquiring Veracode, a SaaS-based secure devOps platform provider, for approximately $614 million in cash. The deal is expected to close in Q1 of fiscal year 2018.
The acquisition, CA Technologies said, should help unify its security and its devOps portfolios, giving customers a platform to allows them to integrate security directly into software development.
"Software is at the heart of every company's digital transformation," Ayman Sayed, president and chief product officer of CA Technologies, said in a statement. "Therefore, it's increasingly important for them to integrate security at the start of their development processes, so they can respond to market opportunities in a secure manner."
The acquisition should also enable CA to extend its customer base from larger enterprises to include midsize enterprises.
By 2019, acccording to a Gartner estimate from September, more than half of enterprise devOps initiatives will include application security testing for custom code. That's up from 10 percent in 2016. As Sayed pointed out in a blog post, 90 percent of security incidents result from exploits against defects in software, according to the US Homeland Security Department.
The acquisition builds on CA Technologies' acquisition of Automic in December, giving CA a broad set of enterprise offerings.