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Home News

Synopsys Sells Software Integrity for $2.1B

May 6, 2024
Reading Time: 3 mins read
in News
Synopsys Sells Software Integrity for $2.1B

Synopsys announced on Monday that it is selling its Software Integrity Group to private equity firms Clearlake Capital and Francisco Partners in a deal valued at $2.1 billion. This transaction marks a significant shift for Synopsys, which has been a key player in semiconductor design, semiconductor IP solutions for SoC designs, and application security and software risk management solutions.

Once the deal closes, expected in the second half of 2024, the Software Integrity Group will operate as an independent application security testing software provider. The current management team of the Software Integrity Group is expected to lead the new company, with its name to be announced later. This separation aims to provide the software integrity business with a focused direction and the ability to thrive independently.

Synopsys plans to leverage the sale proceeds to accelerate its silicon-to-systems strategy and enhance its core design automation and IP businesses. This strategic shift will allow Synopsys to concentrate on its primary areas of expertise, reinforcing its leadership in the semiconductor industry. The sale is seen as a move to streamline operations and sharpen its competitive edge in the market.

The first indications of a potential sale emerged in February, with Bloomberg reporting a possible valuation of $3 billion or more. However, Synopsys has now disclosed the final transaction value to be up to $2.1 billion, which includes up to $475 million in cash payable contingent on Clearlake and Francisco Partners achieving a specified rate of return. This sale underscores the dynamic nature of the tech industry and Synopsys’ adaptability in responding to market opportunities.

Reference:
  • Synopsys Selling Software Integrity Group in $2.1 Billion Deal
Tags: acquisitionsClearlake CapitalCyber NewsCyber News 2024Cyber threatsCybersecurityFranciscoFrancisco PartnersIntegrity GroupMay 2024SoC designsSoftwareSynopsys
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