Clearlake Capital Group LP and Francisco Partners, two private equity firms, have agreed to acquire the software integrity group business from Synopsys Inc. (Nasdaq: SNPS) for $2.1 billion.
Synopsys’ software integrity group provides integrated software services that aim to transform the way development teams build and deliver software, driving innovation while addressing business risk. Its portfolio of software security products interoperates with third-party and open-source tools, allowing organizations to leverage existing investments to build the security program that is best for them. Upon completion of the transaction, the business will be a newly independent application security testing software provider.
JPMorgan served as financial advisor and Cleary Gottlieb Steen & Hamilton served as legal advisor to Synopsys. Evercore, Deutsche Bank and Barclays acted as financial advisors to Clearlake and Francisco Partners. Sidley Austin acted as lead legal advisor to Clearlake and Francisco Partners. Simpson Thacher & Bartlett also advised Francisco Partners.