M&A Deal Summary

Synopsys Acquires Black Duck Software

On November 2, 2017, Synopsys acquired software company Black Duck Software from Escalate Capital for 565M USD

Acquisition Highlights
  • This is Synopsys’ 40th transaction in the Software sector.
  • This is Synopsys’ 2nd largest (disclosed) transaction.
  • This is Synopsys’ 37th transaction in the United States.
  • This is Synopsys’ 3rd transaction in Massachusetts.
Investment Fate
  • Black Duck Software was divested to a consortium of buyers in 2024 for 2.1B USD.

M&A Deal Summary

Date 2017-11-02
Target Black Duck Software
Sector Software
Buyer(s) Synopsys
Sellers(s) Escalate Capital
Deal Type Add-on Acquisition
Deal Value 565M USD
Advisor(s) Barclays Investment Bank (Financial)

Target

Black Duck Software

Burlington, Massachusetts, United States
Black Duck Software is a provider of automated solutions for securing and managing open source software, eliminating the pain related to security vulnerabilities, open source license compliance and operational risk. Black Duck Software was founded in 2002 and is headquartered in Burlington, Massachusetts.

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Buyer(S) 1

Buyer

Synopsys

Sunnyvale, California, United States

Category Company
Founded 1986
Sector Software
Employees20,000
Revenue 6.1B USD (2024)
DESCRIPTION
Entrance to Synopsys' corporate headquarters in Mountain View, California.
Entrance to Synopsys' corporate headquarters in Mountain View, California.

Synopsys is a global software company providing electronic design automation tools, semiconductor intellectual-property blocks, and verification & simulation solutions that help engineers design, test, and build integrated circuits, systems-on-chip, and complex electronics. Synopsys was founded in 1986 and is based in Sunnyvale, California.


DEAL STATS #
Overall 54 of 71
Sector: Software M&A 40 of 49
Type: Add-on Acquisition M&A Deals 50 of 64
State: Massachusetts M&A 3 of 3
Country: United States M&A 37 of 45
Year: 2017 M&A 3 of 3
Size (of disclosed) 2 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-18 QuantumWise A/S

Copenhagen, Denmark

QuantumWise A/S is a developer of software tools for atomic-scale modeling of materials, with more than 400 commercial and academic customers worldwide. The QuantumWise tools simulate the properties of materials based on fundamental quantum mechanical theories to improve product performance across many applications, including semiconductors and electronics.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-08 PhoeniX B.V.

Enschede, Netherlands

PhoeniX B.V. is an independent high-tech company develops, supply and supports world class software solutions for micro and nano technology corporations and institutes. PhoeniX was founded in 1991 and is based in Enschede, Netherlands.

Buy -

Seller(S) 1

SELLER

Escalate Capital

Austin, Texas, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2005
PE ASSETS 830M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Escalate Capital Partners is a private investment firm focused on providing capital to expansion and late-stage companies. The Firm focuses its investment activity within the technology, life sciences, and service-based industries. Prospective financing solutions include senior, subordinated and mezzanine debt. Escalate's target investment size is $5 to $30 million. Escalate Capital Partners has offices in Menlo Park, California and Austin, Texas.


DEAL STATS #
Overall 25 of 39
Sector: Software M&A 4 of 9
Type: Add-on Acquisition M&A Deals 14 of 25
State: Massachusetts M&A 2 of 3
Country: United States M&A 25 of 39
Year: 2017 M&A 6 of 6
Size (of disclosed) 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-07 Allconnect

Atlanta, Georgia, United States

Allconnect, Inc. offers customers a convenient single source to compare and connect integrated media, broadband, home protection, energy and green products. Allconnect’s services are available at allconnect.com, through utility and energy companies representing over 50 million households, and via affiliates. Through more than 20 million annual consumer touch points, the company acquires customers, increases revenue and generates higher customer satisfaction for its partners. Allconnect’s 2016 customer satisfaction score of 86, as measured by the American Customer Satisfaction Index (ACSI), is the second-highest score of the publicly measured companies in 2016. Founded in 1998, Allconnect is headquartered in Atlanta, Georgia, with offices in Lexington, Kentucky and St. George, Utah.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-26 Movista

Bentonville, Arizona, United States

Movista is a software-as-a-service (SaaS) company that provides the industry’s leading mobile-first retail execution and workforce management platform, ONE by Movista. Movista was founded in 2010 and is based in Bentonville, Arizona.

Buy -