Global private equity firm Hellman & Friedman is set to acquire Israeli cybersecurity company Checkmarx at a valuation of $1.15 billion.

The deal represents the largest acquisition of an application security company to date.

H&F will buy Checkmarx from Insight Partners, which will continue to own a substantial minority interest.

Checkmarx’s software security solutions enable organizations to deliver secure software faster, by making security checks intrinsic to the development phase.

“More than 40 of the Fortune 100 have turned to Checkmarx to mitigate risk, secure code, and embed security into every aspect of their software development,” said Emmanuel Benzaquen, CEO of Checkmarx. “We are thrilled to partner with H&F in our journey that takes our ‘software equals security’ vision to the next level.”

Checkmarx was founded in 2006 and led since by Benzaquen and Maty Siman, founder and CTO. It employs more than 700 employees and has some 1,400 customers in 70 countries. Customers include SAP, Samsung and Salesforce.