Application Security , Next-Generation Technologies & Secure Development , Video

Perks of Independence for Synopsys' Software Integrity Group

Becoming a stand-alone company will allow Synopsys' Software Integrity Group to move more nimbly in the fast-paced application security market, said General Manager Jason Schmitt.

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The $2.1 billion deal involves carving out the business unit, which already operates semi-independently within Synopsys, and standing up essential corporate functions such as HR, finance and legal. Schmitt called out Francisco Partners and Clearlake's past experience in successfully carving out and scaling technology businesses and said existing Software Integrity Group management will remain following the close of the deal (see: Synopsys Greenlights Sale of $525M Application Security Unit).

"This gives what is already a leader in our market the chance to be a stand-alone company with very capable strong backers," Schmitt said. "We believe we'll be able to move faster and have a lot more flexibility. Having partners of this high quality that can invest in the business with a growth mindset is exciting for everyone in the Software Integrity Group."

In this video interview with Information Security Media Group, Schmitt also discussed:

• The rationale behind the acquisition and its impact on growth and innovation;
• The carve-out process and the role of the new ownership in fueling business development;
• Future investments in the Polaris platform and AI-driven application security testing.

Before joining Synopsys in August 2020, Schmitt served as CEO of cloud security startup Aporeto, where he led the company from pre-revenue through a successful acquisition by Palo Alto Networks. He has a background in software development and application security and spent years leading enterprise security products as vice president at Hewlett Packard and general manager at Fortify and ArcSight.