Verdane exits Codenomicon in trade sale

The exit comes four years after Codenomicon was acquired by Verdane as part of the GP's purchase of the Eqvitec Technology Fund II & III portfolios. Codenomicon is Verdane's third exit from the portfolio of 12 companies in the Eqvitec portfolio.

Codenomicon's sale follows hot on the heels of another exit from Verdane Capital VII, which sold Octoshape to Akamai in a trade sale earlier this month.

Synopsys said the purchase was not material to the company's financials, and expects the deal to close within 30 days.

Previous funding
Codenomicon was acquired as part of the Eqvitec Technology Fund III portfolio, which was purchased by Verdane in March 2011.

Company
Based in Oulu, Finland, Codenomicon is a developer of security-testing tools for software, which was founded in 2011. The company has offices in California, Hong Kong and Singapore.

The business was among the earliest discoverers of the Heartbleed bug in 2014, giving the OpenSSL security bug its name and creating its logo.

Codenomicon employs 105 people.

People
Henrik Aspén is a partner at Verdane Capital Partners. Rauli Kaksonen is the co-founder of Codenomicon and Chi-Foon Chan is the president and CEO of Synopsys.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Nordics
• Technology
• Finland
• Verdane Capital Partners
• Trade sale