Synopsis has signed a merger deal with Cigital and Codiscope, both software security experts, as the former makes another bid for the cyber-security market.
Synopsys has announced entering an agreement to acquire software security expert Cigital and cyber-security tool provider Codiscope.
The security of software code is a critical concern across many industries, including financial, medical, industrial and automotive.
As the cyber security landscape becomes increasingly complex, organisations struggle finding the right solution in a sea of tool offerings and vendor strategies. The acquisition of Cigital and Codiscope will add products, services and a skilled workforce to Synopsys' own arsenal of offerings.
The terms of the deal have not been disclosed yet. However, the deal, which is expected to close in December, is funded with US cash and debt and is subject to a regulatory review thereafter.
While Synopsys is yet to provide financial guidance for fiscal 2017, the acquisition of Cigital and Codiscope is expected to be modestly dilutive to 2017 non-GAAP earnings per share and is expected to reach breakeven on a non-GAAP basis by the second half of 2018.