Wednesday, March 29 2023

Synopsys, Inc. (NASDAQ: SNPS) today announced that it has signed a definitive agreement to acquire WhiteHat Security, a leading provider of application security Software-as-a-Service (SaaS). The addition of WhiteHat Security will provide 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 portfolio. 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.

Under the terms of the transaction, Synopsys will pay approximately $330 million in cash. The transaction is subject to regulatory review and customary closing conditions and is expected to close in Synopsys’ fiscal Q3 2022. Based on its preliminary review, Synopsys currently 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.”

“We’re thrilled to join forces with Synopsys in the next phase of our journey,” said Craig Hinkley, chief executive officer of WhiteHat Security. “The combination of our respective strengths and our shared vision for the future of application security presents exciting opportunities for our customers and the broader market. We look forward to continuing to serve the loyal customers that have trusted WhiteHat Security for nearly 20 years and expanding our footprint as part of the larger Synopsys portfolio.”

Craig Hinkley, chief executive officer of WhiteHat Security
Previous

Code Security Firm SonarSource Secures $412M

Next

Cyber Executive Moves: Accenture, CISA, Shift5

Check Also

Widget

Don’t Miss

Cyber Executive Moves: Netizen, Kroll, Coalfire

Julia Bischoff

Netizen hires Joe Carr as director of cybersecurity, and Krebs Stamos Group names new chief information security officer. Netizen, a veteran-owned cybersecurity solutions provider, named Joe Carr as director of cybersecurity. Carr held many different positions before Netizen, including overseeing acquisition programs for the United States military.  Krebs Stamos Group, a technology risk insights provider, […]

Cyber Deals: Opscura, Acceldata, and Sensiguard Acquisition

Austin Boland-Ferguson

Cybersecurity venture funding activity and mergers and acquisitions: This week’s most sizable deals included emergency and healthcare security service providers. Funding Industrial control system (ICS) cybersecurity provider Opscura Inc. received $9.4 million in Series A funding, which will help the Spain-based company with US expansion. Tenable’s corporate venture capital arm led a $7 million seed […]

Cyber Executive Moves: Appgate, Trellix, Rubrik

Julia Bischoff

Appgate appoints a new CEO, Trellix hires loanDepot’s CISO, SANS Institute taps new CISO director. Secure access solutions provider Appgate appointed Leo Taddeo as chief executive officer and president. Taddeo stepped into the new role after serving as Appgate’s chief information security officer since February of 2022. The SANS Institute, a cybersecurity training company, appointed […]

Cyber Deals: Drata, Field Effect investments, and Veracode acquisition

Julia Bischoff

Cybersecurity venture funding and merger activity: This week’s largest deals were MDR and security automation investments, as MSP consolidation continues to attract corporate buyers. Funding Cork, Ireland-based, data encryption company Valutree acquired $12.8 million in their series A funding round, led by investors Molten Ventures and Ten Eleven Ventures. Funds will be used to expand […]

Cyber Deals: Spin Technology, CyberArk, Mesh Security

James Hu

Cybersecurity Venture Funding and Mergers: This week’s deals involved cloud security services, data privacy, and industrial cybersecurity companies. Funding Cloud cybersecurity firm Mesh Security has secured $4.5 million in venture funding. The round was led by Booster Ventures with participation from other investors. Spin Technology, a firm providing SaaS security solutions, raised $16 million in […]

Cyber Deals: Cybrary, Ping Identity, Axio Global

James Hu

Cybersecurity Venture Funding and Mergers: Key investments were made in cybersecurity training, secure enterprise browser, and risk management companies. M&A activity this week involved identity security, zero trust, and threat intelligence firms. Funding Cybrary, a cybersecurity training platform, raised $25 million in a Series C funding round. The round was led by BuildGroup and Gula […]