New Technology to Expand Growing Portfolio of Application Lifecycle
Management Products
SAN FRANCISCO, May 27 /PRNewswire/ -- Coverity(TM), Inc., the leader in
automatically improving software quality and security in C/C++ and Java,
today announced the acquisition of Codefast. Coverity's first acquisition
provides the company with engineering talent and advanced technology from
Codefast to help developers understand and accelerate the software build
process. The product acquired from Codefast will be enhanced to take
advantage of Coverity's patented Software DNA Map(TM) analysis system,
further expanding the company's platform of products that enable software
development teams to ensure the integrity of their code. Financial terms of
the acquisition were not disclosed.
"Many development organizations today struggle with build management
and build optimization, leaving a significant opportunity for innovation
from Application Lifecycle Management vendors," said Theresa Lanowitz,
founder of Voke, a technology analyst firm. "This is an excellent
acquisition for Coverity. It gives the company a strong product offering in
an emerging ALM segment that is a natural complement to Coverity's existing
strengths in static and dynamic analysis."
In February 2008, Coverity accepted its first round of outside funding
following 5 consecutive years of cash flow positive growth during which
time the company was successfully bootstrapped by product sales. The $22
Million round from Foundation Capital and Benchmark Capital was accepted to
accelerate Coverity's sales and marketing reach, and to expand its product
portfolio through acquisition and accelerated internal research and
development efforts. The purchase of Codefast is Coverity's first
acquisition.
"We dedicated the last 10 years at Codefast developing sophisticated
execution engines to enable both incremental and parallel builds.
Coverity's Software DNA Map analysis system is the missing piece that will
unlock the power of Codefast's technology and open exciting new build
efficiencies for developers," said Tom Schultz, former CTO of Code Fast,
who is now a Director in the Office of the CTO at Coverity. "The Codefast
team is pleased to bring our technology and expertise to Coverity, and we
look forward to fundamentally improving the way software is built."
Coverity's experience with over 450 static and dynamic analysis
customers was critical in the company's decision to purchase Codefast.
Based on customer research, large development teams have an appetite for
new tools that can accommodate a variety of build methodologies while
improving their overall build processes.
"Build processes today are frequently inconsistent, leading to
unpredictable results or costly delays that drag down development teams,"
said Seth Hallem, CEO of Coverity. "When combined with our existing static
and dynamic analysis products, the addition of Codefast will enable
Coverity products to span the coding, testing, building, and integration
phases of software development, where many development organizations face
considerable challenges."
For more information on Coverity, please visit: http://www.coverity.com
About Coverity
Coverity (http://www.coverity.com), the leader in improving software
quality and security, is a privately held company headquartered in San
Francisco. Coverity's groundbreaking technology enables developers to
control complexity in the development process by automatically finding and
helping to repair critical software defects and security vulnerabilities
throughout the application lifecycle. More than 450 leading companies
including ARM, Phillips, RIM, Rockwell-Collins, Samsung and UBS rely on
Coverity to help them ensure the delivery of superior software.
Coverity is a registered trademark, and Coverity Extend and Coverity
Prevent are trademarks of Coverity, Inc. All other company and product
names are the property of their respective owners.
Media Contacts
Jim Shissler
Director, Public Relations
jshissler@coverity.com
+1 (415) 694-5342
Steve Eisenstadt
Page One Public Relations
steve@pageonepr.com
+1 (919) 781-8096
SOURCE Coverity, Inc.
 back to top
Related links:
http://www.coverity.com
CONTACT:
Jim Shissler, Director, Public Relations of
Coverity, Inc., +1-415-694-5342, jshissler@coverity.com; or Steve
Eisenstadt of Page One Public Relations, +1-919-781-8096,
steve@pageonepr.com, for Coverity, Inc.
|
