Sources claim that buyout firm Vista Equity is evaluating many possibilities, one of which is selling Sonatype in a deal that may put the cybersecurity startup’s total valuation above $1.5 billion, including debt.
According to sources, buyout company Vista Equity is considering a number of options, including selling Sonatype in a transaction that could value the cybersecurity company at more than $1.5 billion, including debt. According to individuals who asked to remain anonymous since the information is private, Fulton, Maryland-based Sonatype has reached out to Goldman Sachs (GS.N.) to express interest from possible buyers, which may include other private equity companies. The sources said that Vista might decide to sell a minority interest in Sonatype, but they stressed that these are just preliminary talks and that no agreement is guaranteed. According to the sources, Sonatype is currently profitable and brings in over $150 million in recurring revenue annually.
Sonatype is a software and technology tool provider that assists businesses with software development, open-source code inspection and maintenance, and software supply chain security. On its website, Sonatype states that it provides services to over 2000 commercial clients and about 15 million software developers. Banks, financial services corporations including BNP Paribas, ABN Amro, and BNY Mellon, as well as businesses in a range of other industries, are among its clientele. Additionally, it has collaborated with government agencies such as the US Department of Energy and the US Patent and Trademark Office.
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