The application security testing firm Checkmarx was acquired in a $1.15 billion deal by the private equity firm Hellman & Friedman.

The company had been owned by Insight Partners, also a private equity firm, which plans to retain a substantial interest in Checkmarx. The company believes the deal will help keep it on a growth path.

Checkmarx was founded in 2006 Benzaquen and Maty Siman, Founder and CTO, and has more than 700 employees.