Synopsys Inc. is currently being represented by Cleary Gottlieb in the sale of its Software Integrity Group business to Clearlake Capital Group L.P. and Francisco Partners for up to $2.1 billion. The deal includes a cash payment of up to $475 million contingent upon specified returns achieved by Francisco Partners and Clearlake in future liquidity transactions. Once completed, the business will operate independently as a provider of application security testing software.
The transaction was approved unanimously by Synopsys’ board of directors and publicly announced on May 6, 2024. It is anticipated to finalize in the latter half of the same year pending customary closing procedures and regulatory approvals. Synopsys’ Software Integrity Group offers software solutions that streamline software development processes, fostering innovation while managing business risks. Its extensive range of software security products works seamlessly with third-party and open-source tools, allowing companies to tailor their security programs to their particular needs.
For more detailed information about the transaction, please refer to the official press release linked here: [insert link].
