A good time to buy, Cellebrite (NASDAQ: CLBT) completes $170 million acquisition of Corellium

Cellebrite (NASDAQ: CLBT) has completed its acquisition of Corellium, an Arm-based virtualization software company, for an enterprise value of $170 million, according to a company statement.

The transaction involved $150 million paid in cash at closing, with $20 million converted to equity. Corellium securityholders may receive up to an additional $30 million in cash based on performance milestones over the next two years.

Corellium co-founder and chief technology officer Chris Wade has joined Cellebrite as chief technology officer. The acquisition adds virtualization technology to Cellebrite’s digital investigation platform.

The Committee on Foreign Investment in the United States has permitted the acquisition to close based on a national security agreement negotiated with government agencies, pending formal CFIUS clearance and execution by the agencies.

“We are thrilled to officially welcome the Corellium team to the Cellebrite family,” said Thomas E. Hogan, Cellebrite’s chief executive officer, in the statement. “This acquisition is an important step forward for Cellebrite as we continue to raise the bar for how technology can better protect citizens, communities, businesses and nations.”