Watchfire became part of Gemini's portfolio in 2004 when it merged with existing portfolio company Sanctum, which developed security products for website applications. Sanctum's AppScan software scanned these applications for vulnerabilities in the code and taught customers how to deal with them, while its AppShield product detected hackers and blocked them from performing unauthorized actions.

Exit: Watchfire was acquired by IBM (NYSE: IBM) in July 2007.