S&P Global Acquires Firm with Over 900 Smart Contract Security Audits

S&P Global has reached an agreement to acquire the smart contract security firm OpenZeppelin.

Financial data and ratings firm S&P Global has reached an agreement to acquire OpenZeppelin in order to expand its digital asset risk assessment capabilities into on-chain technologies. The news was shared by Wu Blockchain.

Founded in 2015, OpenZeppelin develops one of the most widely used open-source libraries for smart contracts. To date, the company has conducted more than 900 security audits. It is reported that over $37 trillion in value has been transferred via OpenZeppelin Contracts.

OpenZeppelin to Remain a Separate Business Unit

Following the completion of the deal, OpenZeppelin is planned to continue operating under its own name. The company will function as a separate business unit within S&P Global and will be led by CEO Demian Brener.

OpenZeppelin’s technology is used by decentralized finance projects and traditional financial institutions. S&P Global’s move reflects a strategy to directly integrate smart contract security and on-chain infrastructure expertise into its corporate structure for financial risk assessment.

The financial terms of the acquisition agreement were not disclosed.