Synopsys will pay approximately $330 million in cash for the Tel Aviv- based application security SaaS company
Moshe Marziano, Regional Sales Manager for Synopsys Israel. Photo courtesy Synopsys
Software company Synopsis Inc. announced that it has signed a definitive agreement to acquire WhiteHat Security, a leading provider of application security Software-as-a-Service (SaaS). Under the terms of the transaction, Synopsys will pay approximately $330 million in cash for the Tel Aviv- based company.
According to Synopsys, the addition of WhiteHat Security will provide it with significant SaaS capabilities and market-segment-leading dynamic application security testing (DAST) technology to strengthen what is considered one of the industry's broadest application security testing portfolio. WhiteHat Security was acquired by NTT Security Corporation in 2019.
Synpsis emphasize that it shares a vision with WhiteHat Security for delivering SaaS-based security testing solutions and building security into the software development lifecycle.
"WhiteHat Security helped pioneer SaaS delivery of application security testing and brings powerful technology and expertise into our application security portfolio," said Jason Schmitt, general manager of the Synopsys Software Integrity Group.
"WhiteHat Security's DAST capabilities complement our strengths in static analysis, interactive analysis and software composition analysis, while their expertise in SaaS will accelerate our security testing SaaS capabilities. We are excited about the value this will create for our customers and welcome the WhiteHat Security team as they join us in our mission to build trust in the software that businesses depend on."
Moshe Marziano, Regional Sales Manager for Synopsys Israel, said that " WhiteHat's unique solution complements the Synopsys product portfolio for its customers in the Israeli market and around the world. WhiteHat is a pioneer in the field of application security testing in the SaaS model, which adds a tier to Synopsys' capabilities in leading the global market in application security.
“The company's solutions are focused on the developers and security people in the organization, in order to streamline the development processes and solve problems at an earlier stage in the process."