Palo Alto’s Fortify Software, which provides security products for the software development process, said it will buy a company that does something similar, Mclean, Va.-based Secure Software. The goal is to have a larger customer base, it said.
See full statement here.
Secure Software has raised about $14.5 million from investors including Amalia, Charles River Ventures, Updata Partners, and Valhalla Partners. Terms were undisclosed, so it isn’t clear whether they made money on the deal.
Fortify Software, meanwhile, has raised $24 million from DAG Ventures, Integral Capital Partners, Kleiner Perkins and Sigma Partners — so it’s not like this company had a lot to spend on Secure (unless there was debt involved, which we don’t know).
(First posted 1/18)