Coverity Makes its First Acquisition
I just got an early heads up that code analysis vendor Coverity will announce on Tuesday May 27th that it is acquiring software build management vendor Codefast.
Coverity and Codefast are both privately held and financial details are not being disclosed.
According the unreleased press release that I obtained, Codefast's products will be integrated into Coverity's DNA MAP analysis system, " further expanding the
company's platform of products that enable software development teams to ensure
the integrity of their code."
I'm always interested when deep technical firms like Coverity acquire code. Fundamentally what it means is that the stuff they are acquiring is something they didn't want to build on their own (timing/cost or other reasons), and that makes it intriguing.
Coverity has been in business for five years now and just recently got a $22 million dollar round of financing from Foundation Capital and Benchmark Capital. The acquisition of Codefast is the first company acquisition made by Coverity.
Earlier this week, Coverity announced the details of a report on open source code quality - an effort that is being financed in part by a grant from the Department of Homeland Security.