Goodwin advised Onapsis Inc. on the deal
Onapsis, the global leaders in ERP cybersecurity and compliance, has entered into a definitive agreement to acquire privately-held Virtual Forge, headquartered in Heidelberg, Germany. Onapsis’s platform is the most widely-used cybersecurity solution that protects the ERP systems and business-critical applications of the world’s largest organizations. Founded in 2006, Virtual Forge is the leading provider of solutions to automatically prevent, detect and remediate cybersecurity and compliance risks in customizations and extensions of SAP® applications. The combination of Onapsis and Virtual Forge will empower customers to have unparalleled visibility, incident response, management and compliance for business-critical applications.
This acquisition will happen in a context where global organizations have become acutely aware of the urgent need to protect their ERP applications: in May of 2016, ERP application cybersecurity was brought to the forefront when the first ever Department of Homeland Security US-CERT alert for ERP business applications was released, warning organizations of cyberattacks targeting these critical applications. Since then, the trend of ERP attacks has continued to rise at an alarming rate, ranging from hacktivists and malicious insiders to cyber criminal groups and state-sponsored attacks. This is further evidenced by the second Department of Homeland Security US-CERT alert, released in July of 2018, warning of malicious cyber activity to ERP applications.
Virtual Forge’s patented solutions help secure modern extensions developed on the SAP Cloud Platform for cloud business applications, including SAP S/4HANA®, SAP C/4HANA®, SAP SuccessFactors®, SAP Ariba®, SAP Concur® and SAP Fieldglass®, as well as traditional on-premise SAP applications developed on the SAP ABAP programming language.
Goodwin advised Onapsis Inc. with a team including Lars Jessen (Picture) and associate Martin Prokoph led the team which included partners Ken Gordon, Jared Fine and Heiko Penndorf, counsel Felix Krüger and associates Markus Hiebel and Christina Papadimitriou
Involved fees earner: Jared Fine – Goodwin Procter; Kenneth Gordon – Goodwin Procter; Markus Hiebel – Goodwin Procter; Lars Jessen – Goodwin Procter; Felix Krueger – Goodwin Procter; Christina Papadimitriou – Goodwin Procter; Heiko Penndorf – Goodwin Procter; Martin Prokoph – Goodwin Procter;
Law Firms: Goodwin Procter;
Clients: Onapsis Inc;