summit_icecap

Leading software integrity stalwart Synopsys completes acquisition of WhiteHat Security

Editor’s brief: For modern DevOps and DevSecOps environments, one of the key assets is to have application security testing (AST) solutions, which can help developers accelerate the development of not just code, but secure code. Leading software integrity giant Synopsys, has recently announced the completion of its acquisition of WhiteHat Security, one of the proponents of AST solutions, and a pioneer in SaaS delivery of AST. Read more below.

SINGAPORE – Synopsys, Inc. (NASDAQ: SNPS) today announced that it has completed the acquisition of WhiteHat Security, a leading provider of application security Software-as-a-Service (SaaS). The addition of WhiteHat Security provides Synopsys with significant SaaS capabilities and market-segment-leading dynamic application security testing (DAST) technology to strengthen what is considered one of the industry’s broadest application security testing portfolios. Synopsys and WhiteHat Security, which was acquired by NTT Security Corporation in 2019, share a vision for delivering SaaS-based security testing solutions and building security into the software development lifecycle.

Synopsys paid US$330 million in cash and expects the acquisition to be roughly neutral to FY2022 non-GAAP earnings per share.

“WhiteHat Security helped pioneer SaaS delivery of application security testing and brings powerful technology and expertise into our application security portfolio,” said Jason Schmitt, general manager of the Synopsys Software Integrity Group. “WhiteHat Security’s DAST capabilities complement our strengths in static analysis, interactive analysis and software composition analysis, while their expertise in SaaS will accelerate our security testing SaaS capabilities. We are excited about the value this will create for our customers and welcome the WhiteHat Security team as they join us in our mission to build trust in the software that businesses depend on.”

Forward-Looking Statements 

This news release contains forward-looking statements, including, but not limited to, statements regarding the expected benefits of the transaction. Forward-looking statements are subject to both known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. These risks and uncertainties include, among others:  Synopsys’ ability to operate or integrate WhiteHat Security’s assets and employees with its own successfully, which may include a potential loss of customers, key employees, partners or vendors; and uncertain customer demand and support obligations for SaaS and DAST solutions. Other risks and uncertainties that may apply are set forth in the Risk Factors section of Synopsys’ most recently filed Quarterly Report on Form 10-Q. Synopsys assumes no obligation to update any forward-looking statement contained in this news release.

###