In a major development, Synopsys Inc. has reached a definitive agreement with Clearlake Capital Group L.P. and Francisco Partners to sell its Software Integrity Group business for up to $2.1 billion. This transaction includes up to $475 million in cash that will be paid upon achieving a specified rate of return in connection with liquidity transactions. After the completion of this deal, the Software Integrity Group will operate as an independent application security testing software provider.
The board of directors at Synopsys unanimously approved this transaction, which was announced on May 6, 2024. The closing of the deal is expected to take place in the second half of 2024, pending regulatory approvals and other customary closing conditions. The Software Integrity Group offers integrated software solutions that help development teams streamline their software development processes while managing business risks effectively. Its wide range of software security products can work with third-party and open-source tools, enabling organizations to enhance their security programs utilizing their existing investments.
For more details on this deal, please refer to the official press release.
Clearlake Capital Group L.P., Francisco Partners and Synopsys Inc have come to an agreement regarding the sale of Synopsys’ Software Integrity Group business for up to $2.1 billion. This transaction involves up to $475 million in cash that will be paid upon achieving a specified rate of return in connection with liquidity transactions.
Following the completion of this deal, the Software Integrity Group will operate as an independent application security testing software provider.
The board of directors at Synopsys approved this transaction unanimously, which was announced on May 6, 2024.
The closing date for this deal is expected to be in the second half of 2024 pending regulatory approvals and other customary closing conditions.
The Software Integrity Group offers integrated software solutions that streamline software development processes while managing business risks effectively.
Its broad range of software security products can work with third-party and open-source tools enabling organizations to enhance their security programs using existing investments.
