S&P Global Acquires OpenZeppelin for Enhanced Smart Contract Security

S&P Global has agreed to acquire smart contract security company OpenZeppelin in a deal that will integrate the crypto firm into S&P's ratings business. The acquisition is pending closing conditions and financial terms were not disclosed.

The agreement will allow OpenZeppelin to retain its name, leadership, and open-source code while gaining access to S&P's research capacity, market data, institutional reach, and additional resources. Demian Brener, the current leader of OpenZeppelin, will continue to lead the company as an independent unit within S&P Global Ratings.

OpenZeppelin has stated that its security audits, engineering work, and ecosystem programs will continue with the same team, while also committing to keep its current open-source code available permanently. The company has also reported that over $37 trillion in value has been transferred through its Contracts software since 2015.