S&P Global Snaps Up Web3 Security Firm OpenZeppelin for Enhanced Risk Assessment
S&P Global has acquired web3 security firm OpenZeppelin to enhance its risk assessment capabilities in onchain financial markets and blockchain technology. The agreement, announced September 17, aims to leverage OpenZeppelin's expertise in securing smart contracts.
Founded in 2015, OpenZeppelin provides developers with audited Solidity components for common functions like token issuance, access control, and upgradeability through its core Contracts library.
The company's contracts underpin over $37 trillion in value transferred, while it has completed more than 900 security engagements. S&P Global believes that OpenZeppelin's expertise will complement its existing smart contract and onchain technology risk assessment capabilities.
The blockchain firm will remain an independent business unit under the OpenZeppelin name, led by Brener. The deal is subject to closing conditions, with neither the purchase price nor other financial terms disclosed.