M&A Deal Summary

Clearlake Capital and Francisco Partners Acquire Synopsys Software Integrity

On May 6, 2024, private equity firms Clearlake Capital and Francisco Partners acquired software company Synopsys Software Integrity from Synopsys for 2.1B USD

Acquisition Highlights
  • This is Clearlake Capital’s 18th and Francisco Partners’ 50th transaction in the Software sector.
  • This is Clearlake Capital’s 6th and Francisco Partners’ 5th largest (disclosed) transaction.
  • This is Clearlake Capital’s 83rd and Francisco Partners’ 122nd transaction in the United States.
  • This is Clearlake Capital’s 16th and Francisco Partners’ 37th transaction in California.

M&A Deal Summary

Date 2024-05-06
Target Synopsys Software Integrity
Sector Software
Buyer(s) Clearlake Capital
Francisco Partners
Sellers(s) Synopsys
Deal Type Divestiture
Deal Value 2.1B USD

Target

Synopsys Software Integrity

Mountain View, California, United States
Synopsys Software Integrity Group is a provider of application security testing solutions.

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Buyer(S) 2

Buyer

Clearlake Capital

Santa Monica, California, United States

Category Private Equity Firm
Founded 2006
PE ASSETS 72.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clearlake Capital Group is a private equity firm that focuses on corporate divestitures, recapitalizations, buyouts, restructurings, rescue financing, growth capital, turnarounds, and other equity investments. Clearlake seeks to partner with strong management teams by providing long-term capital and operational expertise. Areas of interest include technology, industrials, and consumer. Clearlake Capital Group was formed in 2006 and is based in Santa Monica, California.


DEAL STATS #
Overall 87 of 88
Sector (Software) 18 of 19
Type (Divestiture) 9 of 9
State (California) 16 of 16
Country (United States) 83 of 83
Year (2024) 1 of 2
Size (of disclosed) 6 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-18 Alteryx

Irvine, California, United States

Alteryx is a provider of self-service data analytics software. Alteryx's software platform enables organizations to dramatically improve business outcomes and the productivity of their business analysts. Alteryx's subscription-based platform allows organizations to prepare, blend, and analyze data from a multitude of sources and more quickly benefit from data-driven decisions. The ease-of-use, speed, and sophistication that its platform provides is enhanced through intuitive and highly repeatable visual workflows. Alteryx was founded in 1997 and is based in Irvine, California.

Buy $4.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-14 AMCS

Limerick, Ireland

AMCS supplies integrated software and vehicle technology for the waste, recycling, and material resources industries. AMCS Platform is a suite of best-in-class SaaS solutions that includes industry-specific enterprise management software, intelligent optimization, mobile workforce, vehicle technology, digital engagement, and analytics solutions, which delivers digital innovation to the emerging circular economy worldwide. AMCS was founded in 2003 and is based in Limerick, Ireland.

Sell -
Buyer

Francisco Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 45.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Francisco Partners' headquarters in San Francisco, California.
Francisco Partners' headquarters in San Francisco, California.

Francisco Partners is a private equity firm focused exclusively on investments in technology and technology-enabled services. Specific areas of interest include semiconductors, capital equipment, electronics components, systems and manufacturing, IT services and business process outsourcing, communications, security and enterprise applications, and infrastructure software. Prospective investment situations include divisional buyouts, growth equity financings, acquisitions of private companies, sponsored mergers and acquisitions, and take-privates. Francisco Partners looks for opportunities where it can commit a minimum of $100 million per investment. Francisco Partners was formed in 1999 and is based in San Francisco, California.


DEAL STATS #
Overall 147 of 149
Sector (Software) 50 of 50
Type (Divestiture) 31 of 32
State (California) 37 of 38
Country (United States) 122 of 124
Year (2024) 2 of 4
Size (of disclosed) 5 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-14 Jama Software

Portland, Oregon, United States

Jama Software is a product development platform for companies building complex, smart and connected products. The Jama solution enables enterprises to accelerate development time, mitigate risk, slash complexity and verify regulatory compliance. Jama Software is based in Portland, Oregon.

Buy $1.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-12 QGenda

Atlanta, Georgia, United States

QGenda is a provider of automated healthcare workforce management software. Since its launch in 2006, QGenda has grown to serve more than 1,200 customers in over 30 medical specialties across 5,000 hospitals. The subscription-based automated scheduling software is used by practice groups, hospitals, academic medical centers, and enterprise health systems to build optimal schedules for clinicians and medical staff to provide the best possible care. QGenda was founded in 2006 and is based in Atlanta, Georgia.

Sell -

Seller(S) 1

SELLER

Synopsys

Sunnyvale, California, United States

Category Company
Founded 1986
Sector Software
Employees20,300
Revenue 5.8B USD (2023)
DESCRIPTION
Entrance to Synopsys' corporate headquarters in Mountain View, California.
Entrance to Synopsys' corporate headquarters in Mountain View, California.

Synopsys with companies to develop electronic products and software applications. Synopsys provides electronic design automation (EDA) and semiconductor IP solutions. Synopsys was founded in 1986 and is based in Sunnyvale, California.


DEAL STATS #
Overall 2 of 3
Sector (Software) 2 of 2
Type (Divestiture) 2 of 3
State (California) 1 of 2
Country (United States) 2 of 3
Year (2024) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-20 Intrinsic-ID

Sunnyvale, California, United States

Intrinsic-ID is a digital authentication company that provides the Internet of Things with hardware-based root-of-trust security via unclonable identities for any IoT-connected device. Intrinsic-ID was established in 2008 and is based in Sunnyvale, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-19 Synopsy - Optical Solutions Group

Sunnyvale, California, United States

Synopsys' Optical Solutions Group develops optical design tools.

Sell -