(Reuters) -Synopsys will promote its software program integrity (SIG) unit to a personal fairness consortium led by Clearlake Capital and Francisco Companions in a deal valued at $2.1 billion, the chip designer stated on Monday.
Reuters reported final week that the non-public fairness companies had prevailed over rivals and that their consortium was in superior talks to amass the SIG unit, which supplies utility safety testing for software program builders.
The deal contains as much as $475 million in money that might be payable as soon as the buyout companies hit a sure charge of return associated to a number of liquidity transactions.
Liquidity transactions check with offers the place holders of an organization’s inventory, together with workers, can promote their shares.
Synopsys (NASDAQ:) introduced plans in late 2023 to divest its SIG unit. In January, the corporate agreed to amass rival design software program agency Ansys (NASDAQ:) for $35 billion, its largest-ever deal.
The SIG deal is anticipated to shut within the second half of 2024 and can create a brand new standalone entity that gives utility safety testing software program.
The corporate stated it will launch the identify of the brand new enterprise at a later date.
