Harbottle & Lewis has advised DeepCode AG, a Swiss tech company at the forefront of semantic AI-driven code analysis, on its acquisition by Snyk Ltd, a leader in developer application security.
DeepCode is an ETH Zurich university spin-off founded by leading researchers in machine learning and programming languages, focused on applying machine learning to assist developers with application quality and security in real time as they code. Snyk is the proprietor of an innovative security solution, used by more than 1.5million developers worldwide to build software securely.
Both company’s technology solutions complement each other: DeepCode’s AI engine will help Snyk increase speed and ensure a new level of accuracy in finding and fixing vulnerabilities, whilst leveraging Snyk’s security expertise and comprehensive vulnerability database will allow DeepCode to train its AI engine to improve the accuracy and speed of its code analysis tool.
“Combining our resources with Snyk – the leader in developer-first cloud-native application security – will help both developers and security teams to further reduce risk and become more productive,” said Boris Paskalev, Co-Founder and CEO of DeepCode.
Tony Littner, partner in Harbottle & Lewis’s Corporate group and head of the Firm’s Venture Capital group, together with senior associate Tom Macleod, led a multi-disciplinary team that advised DeepCode on the transaction with support primarily from Michael Finch (Corporate associate) and David Scott (Tax partner).
On working with Harbottle & Lewis, Boris Paskalev said: “Tony, Tom and the team guided us expertly through the transaction. They understood the commercial drivers that underpinned the deal and their advice and support was crucial. They demonstrated a first class service from start to finish.”