Synopsys (SNPS) to Sell Software Integrity Business for $2.1B
SNPSSynopsys(SNPS) Zacks Investment Research·2024-05-07 22:30

Synopsys, Inc. (SNPS) , a leading provider of electronic design automation software solutions, has agreed to sell its Software Integrity Group business to two private equity firms — Clearlake Capital Group, L.P. and Francisco Partners — for as much as 2.1billionincash.Pertheagreement,Synopsyswillget2.1 billion in cash. Per the agreement, Synopsys will get 1.5 billion upon the close of the transaction, another 125millionoverthenextfivequartersand125 million over the next five quarters and 475 million in cash payable upon achieving a specified rate of return. The transaction is anticipat ...