Thoma Bravo acquired Veracode, an application security company based in Burlington, Massachusetts, from Broadcom, an American fabless semiconductor company that made products for the wireless and broadband communication industry, for $950m in cash. “In today’s digital economy practically every company is turning into a software company through their own digital transformation. As these companies continue to build complex applications, many of which contain sensitive data, the applications themselves increasingly become the target of more sophisticated and omnipresent cyber-attacks. As such, applications need to be built with security in mind day one, and we see a significant, growing market opportunity for Veracode’s product offerings,” said Chip Virnig, a partner at Thoma Bravo.