Sidley is representing Clearlake Capital Group, L.P. and Francisco Partners, two global private equity firms, in their acquisition of Software Integrity Group (“SIG”) from Synopsys, Inc. (NASDAQ: SNPS) for total consideration of up to US$2.1 billion. SIG delivers integrated application security testing to software developers. Its portfolio of software security products interoperates with third-party and open-source tools, allowing organizations to leverage existing investments to build the security program that is best for them. Upon completion of the transaction, SIG will emerge as a newly independent application security testing software provider.
The transaction is expected to close in the second half of 2024, subject to customary closing conditions including the receipt of required regulatory approvals.
The Sidley team is being led by Mehdi Khodadad and Nicolai Schwarz-Gondek (M&A and Private Equity), and includes Mark Castiglia, Avni Mehta, George Krug, Tommy Tsao, and Daniel Gessner (M&A and Private Equity); Nicholas Schwartz, Kristen Smith, Kendra Smith, and Chloe Kim (Global Finance); Stacy Crosnicker, Gregory Matisoff, and Alexandra Green (Employee Benefits and Executive Compensation); Eric Kauffman, Peter McCorkell, Emily Wajert, Alex Down, and Drew Burkey (Trainee Solicitor) (Employment); Rachel Kleinberg, Jonathan Westreich, and Andy Lau (Tax); Vadim Brusser, Ken Daly, Jamie Sadler, Monika Zdzieborska, and Iva Todorova (Antitrust and Competition); Sven De Knop, Jen Fernandez, and Alessandra Moroni (International Trade); Jim Ducayet and Eric Schwartz (Litigation); Kyle Barnett, Dusan Clark, Andy Dykstra, Dina Kang, and Adia Brantley (Technology Transactions); and Sheri Porath Rockwell and Sasha Hondagneu-Messner (Privacy and Cybersecurity).
