Arxan Technologies, the trusted provider of application protection solutions, announced today that it has been acquired and has come together with CollabNet VersionOne and XebiaLabs to form Digital.ai. The newly formed company brings together leading technologies in agile planning, application security, and software delivery to create the industry’s first intelligent value stream platform. Backed by TPG Capital, Digital.ai will help the world’s largest enterprises accelerate their digital transformation initiatives, creating operational efficiencies across development, IT operations and security to deliver high-quality, secure digital experiences their customers can trust. Arxan’s existing shareholder, TA Associates, has sold its stake in the company as part of the combination. Financial terms of the combination were not disclosed.
“Today’s IT leaders are under intense pressure not only to drive innovation but reduce cost and improve customer and employee experiences, all while lowering risk. However, the lack of critical application security technologies and processes within the software development lifecycle today has created a massive attack surface for enterprises,” said Ashok Reddy, CEO of Digital.ai. “With the addition of Arxan’s application security suite to Digital.ai’s value stream platform, organizations no longer have to choose between innovation, security, and agility.”
Arxan’s addition to the new Digital.ai platform provides a unique set of capabilities that offer “Security by Design” as an integral part of the software development lifecycle. Including application security at the planning level allows organizations to ensure they are compliant from the start. Additionally, the company’s continuous app protection and real-time threat data feedback capabilities can be intentionally designed into the application development processes to reduce unnecessary churn or delays towards the end of the development lifecycle.
“Leading enterprises have already implemented Arxan as their application security platform, integrating with DevOps processes for their most critical applications,” said Joe Sander, CEO of Arxan. “This acquisition provides the resources and the reach to continue to stay on the cutting edge of application and API protection. The Arxan team is excited to become part of Digital.ai and create a unified DevSecOps platform that helps the world’s leading enterprises secure critical business applications while reducing development expenses and delivering greater customer value.”
Digital.ai’s established customer base includes global leaders in banking, finance, aerospace, retail, insurance and more, and is highly complementary to the more than five billion application instances currently protected by Arxan.
“TA invested in Arxan seven years ago because of the company’s well-earned reputation for providing what many considered to be the most advanced, sophisticated and proven suite of application security solutions,” said Kenneth T. Schiciano, a Managing Director at TA Associates. “It has been a pleasure working with Arxan to help further solidify the company’s position, and we wish the Arxan team and Digital.ai much continued success.”
Evercore served as financial advisor to Digital.ai, and Ropes & Gray LLP served as legal counsel. Moelis & Company served as financial advisor to Arxan, and Goodwin Procter served as legal counsel.
For more information and to stay current with Digital.ai’s latest news, please visit digital.ai.
Digital.ai enables enterprises to focus on outcomes instead of outputs, create greater business value faster, and deliver secure digital experiences their customers trust. The Digital.ai Value Stream Platform seamlessly integrates all the disparate tools and processes across the various value streams, uses data and AI/ML to create connective tissue between them, and provides the real-time, contextual insights required to drive and sustain successful digital transformation. With Digital.ai, enterprises have the visibility they’ve been seeking to deliver value, drive growth, increase profitability, reduce security risk, and improve customer experience. Learn more at digital.ai.
About Arxan Technologies
Arxan, a global trusted leader providing the industry’s most comprehensive application protection solutions, works with organizations looking to protect applications and to securely deploy and manage business-critical apps to the extended enterprise. Arxan currently protects more than five billion application instances across many industries including financial services, mobile payments, medical devices, automotive, gaming, and entertainment. Unlike legacy security solutions that rely on perimeter-based barriers to keep bad actors out or that require device management controls, Arxan products protect at the application-level from the inside out. This approach protects the source and binary code to expand the corporate perimeter of trust to the new endpoint – the application. Arxan provides a broad range of patented security capabilities such as a dynamic app policy engine, code hardening, obfuscation, white-box cryptography and encryption, threat analytics and rapid app protection deployment designed for DevOps processes. Founded in 2001, Arxan is headquartered in North America with global offices in EMEA and APAC. For more information, please visit our website or follow us on Twitter.
TPG is a leading global alternative asset firm founded in 1992 with more than $119 billion of assets under management and offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, and Singapore. TPG’s investment platforms are across a wide range of asset classes, including private equity, growth equity, real estate, credit, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information, visit www.tpg.com.