M&A Deal Summary

Battery Ventures Acquires CodeSecure

On September 5, 2023, private equity firm Battery Ventures acquired software company CodeSecure from GrammaTech

Acquisition Highlights
  • This is Battery Ventures’ 33rd transaction in the Software sector.
  • This is Battery Ventures’ 77th transaction in the United States.
  • This is Battery Ventures’ 1st transaction in Maryland.

M&A Deal Summary
Date 2023-09-05
Target CodeSecure
Sector Software
Buyer(s) Battery Ventures
Sellers(s) GrammaTech
Deal Type Divestiture

Target

CodeSecure

Bethesda, Maryland, United States
CodeSecure is a global provider of application security testing (AST) solutions used to detect, measure, analyze and resolve vulnerabilities for software. CodeSecure products enable rapid DevSecOps deployments while also securing their software supply chains. CodeSecure has corporate headquarters in Bethesda, Maryland.

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Buyer(S) 1

Buyer

Battery Ventures

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1983
PE ASSETS 13.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Battery Ventures is a private investment firm focused on opportunities in the technology and related-sectors. Battery will invest at all company stages, from seed and early-stage capital situations to leveraged buyouts, PIPEs, spin outs, rollups and take-privates of established companies. Battery's private equity group focuses on investments in companies with revenue of $5 to $200 million and EBITDA up to $25 million. Battery can commit up to $100 million in equity per transaction. Specific areas of interest include software; IT services and outsourcing; communications components, systems, and services; and financial services and tech-enabled businesses. Battery will consider investments throughout North America, Europe, and Asia. Battery Ventures was formed in 1983 and is headquartered in Menlo Park, California.

DEAL STATS #
Overall 109 of 116
Sector (Software) 33 of 35
Type (Divestiture) 6 of 6
State (Maryland) 1 of 1
Country (United States) 77 of 77
Year (2023) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-21 Weaviate

Amsterdam, Netherlands

Weaviate is a cloud-native, real-time vector database that allows you to bring your machine-learning models to scale. Weaviate is based in Amsterdam, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-28 Skalar Analytical

Breda, Netherlands

Skalar Analytical is a manufacturer of automated laboratory instrumentation for customers across environmental, agricultural, and food & beverage end markets. It has grown into a multinational organization with its own subsidiaries across Europe, North America, and India and with over eighty representatives throughout the world. Skalar Analytical was formed in 1965 and is based in Breda, Netherlands.

Buy -

Seller(S) 1

SELLER

GrammaTech

Ithaca, New York, United States
Category Company
Founded 1988
Sector Software
DESCRIPTION

GrammaTech is a provider of cybersecurity solutions for government and commercial clients. GrammaTech’s software enables users to quickly scan code for vulnerabilities that cause breaches, system failures or poor reliability. GrammaTech’s expertise in application security testing has been built by decades of cutting-edge research for the national security community and other US government agencies. GrammaTech was formed in 1988 and is based in Ithaca, New York.

DEAL STATS #
Overall 1 of 1
Sector (Software) 1 of 1
Type (Divestiture) 1 of 1
State (Maryland) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-22 JuliaSoft S.r.l.

Verona, Italy

JuliaSoft S.r.l. is a provider of Static Application Security Testing (SAST) platform with automated code analysis for Java and C# code. JuliaSoft was founded in 2010 and is based in Verona, Italy.

Buy -
Mergr

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