Ropes & Gray advised TPG in its minority investment in Hellman & Friedman’s acquisition of Checkmarx from Insight Partners. The all-cash transaction was valued at $1.15 billion. TPG has partnered with Hellman & Friedman and will hold a minority interest in Checkmarx with Insight Partners. The deal was announced on April 16. The press release is here.
Checkmarx, founded in 2006, enables organizations to deliver secure software faster by making security excellence intrinsic to software development. With more than 700 employees, Checkmarx has over 1,400 customers in 70 countries, including more than 40 of the Fortune 100 including SAP, Samsung, and Salesforce.com.
The Ropes & Gray team that advised TPG was led by private equity partners Jason Freedman (San Francisco), Alexander Zeltser (New York) and Michael Roh (Boston), and included tax partners Benjamin Rogers (San Francisco) and Elaine Murphy (Boston), litigation & enforcement partners Maria Calvet and Michael McFalls (Washington D.C.), strategic transactions partner Edward Black and benefits partner Loretta Richard(both of Boston).
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