Synopsys, an electronic design automation company, is set to purchase CyberTech company White Hat Security in an all-cash $330m deal.
According to Synopsys, the all-cash deal will provide an entrance to the dynamic application security market and add to a growing portfolio of cybersecurity subsidiaries.
WhiteHat was acquired by Nippon Telegraph and Telephone Corporation in 2019 before being rebranded as NTT Security.
Jason Schmitt – general manager of Synopsys’ Software Integrity Group – claims that the WhiteHat Security deal merges two companies that are ‘strategically aligned, with a shared vision for delivering SaaS-based security testing services and building security into the software development lifecycle’.
Schmitt added the WhiteHat Security technology provides the ability for Synopsys to sell a full security solutions stack into the enterprise market, including tools for static code analysis, dynamic analysis, software composition analysis and interactive application security testing.
Synopsis said it expects the planned acquisition to close in the third fiscal quarter of 2022.
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