Pradeo has acquired Yagaan for further expansion in the mobile application security market. Financial terms of the deal were not disclosed.
This is technology M&A deal number 916 that MSSP Alert and sister site ChannelE2E have covered so far in 2022.
Yagaan, founded in 2017, develops code mining technology that simplifies source code vulnerability detection and remediation, the buyer asserts. The seller, based in France, has 10 employees who will join Pradeo.
Pradeo, founded in 2010, develops services dedicated to securing smartphones, tablets and mobile applications. The company will have 60 employees after the Yagaan acquisition.
In a prepared statement about the deal, Pradeo CEO Clément Saad said:
"Europe is fortunate to have a number of extremely successful businesses in its territory. However, each of them has to compete with powerful unified offers, often foreign, which prevail because of their ease of use. European companies need to unify their services by targeting very specific markets to become global champions."
Added Hervé le Goff, CEO of Yagaan:
"We share with Pradeo the same taste for technological excellence and the need to unify cybersecurity solutions. By integrating Yagaan's expertise and strategic source code auditing technology, Pradeo covers the entire mobile security chain and adds web application security to its portfolio. By forging a common destiny, this move consolidates Pradeo’s leadership and puts us at the forefront of the global cybersecurity market."
