Synopsys Acquires Code Dx to Extend Application Security Portfolio

Rhea-AI Summary

On June 8, 2021, Synopsys (NASDAQ: SNPS) announced the acquisition of Code Dx, enhancing its application security risk management capabilities. This acquisition allows Synopsys to provide consolidated risk reporting across over 75 third-party security products. Code Dx, previously part of the Synopsys Technology Alliance Partner program, adds valuable R&D expertise in vulnerability correlation. The terms of the deal remain undisclosed but are deemed non-material to Synopsys' financials, and it is expected to optimize security testing processes for customers.

Positive

• Enhances application security portfolio through the acquisition of Code Dx.
• Provides consolidated risk reporting across more than 75 security products.
• Strengthens R&D capabilities with experienced engineers in vulnerability correlation.
• Enables integrated security testing across the software development pipeline.

Negative

• None.

MOUNTAIN VIEW, Calif., June 8, 2021 /PRNewswire/ -- Synopsys, Inc. (NASDAQ: SNPS) today announced that it has acquired Code Dx, a provider of an award-winning application security risk management solution that automates and accelerates the discovery, prioritization, and remediation of software vulnerabilities. The addition of Code Dx enables Synopsys to offer customers consolidated risk reporting and prioritization across correlated software vulnerability data produced by Synopsys solutions and more than 75 third-party and open source application security and development products. Headquartered in Northport, New York, the acquisition also adds a team of R&D engineers experienced in vulnerability correlation and integrating security testing activity across the entire software development pipeline.

The terms of the deal, which are not material to Synopsys' financials, are not being disclosed.  

Prior to the acquisition, Code Dx was a valued member of the Synopsys Technology Alliance Partner (TAP) program. As part of that partnership, Synopsys has worked closely with Code Dx to support their integrations within the Synopsys product portfolio. As a result, customers can use Code Dx's offering in conjunction with Synopsys products immediately.

Synopsys provides the broadest portfolio of application security solutions in the industry, including static, dynamic, and interactive application security testing and software composition analysis. The recently introduced Synopsys Intelligent Orchestration solution uses innovative technology to automatically determine and initiate the most appropriate security tests using Synopsys and third-party products based on pre-defined risk policies and changes made to an application. Code Dx complements and extends these solutions by aggregating and correlating security testing results from Synopsys products, third-party products, and open-source products across the pipeline to provide consolidated risk reporting and facilitate prioritized remediation efforts.

"The complexity and speed of modern software development requires the use of multiple security testing technologies and rapid testing cycles," said Jason Schmitt, general manager of the Synopsys Software Integrity Group. "While robust security testing is vital to securing modern software, it often produces large amounts of vulnerability data that is difficult to manage at speed and at scale. Code Dx enables our customers to optimize and harness the breadth of our application security portfolio, along with third-party tools, by aggregating, correlating, and prioritizing security testing results based on risk."

The addition of Code Dx makes Synopsys the first vendor to provide the full spectrum of application security tools and services, including:

• A complete suite of industry-leading security testing tools
• An intelligent orchestration engine that automatically determines and initiates the appropriate tests for each step in the DevOps workflow
• An aggregation, correlation, and prioritization solution for the vulnerabilities identified during testing
• Consolidated application security risk reporting across any commercial and open-source application security solutions
• Consulting and managed services to align people, process, and technology and address application security risks holistically

The extensibility of Synopsys Intelligent Orchestration and Code Dx enables organizations to build more efficient and effective testing programs while leveraging their current investments in application security testing tools.

About the Synopsys Software Integrity Group

Synopsys Software Integrity Group helps development teams build secure, high-quality software, minimizing risks while maximizing speed and productivity. Synopsys, a recognized leader in application security, provides static analysis, software composition analysis, and dynamic analysis solutions that enable teams to quickly find and fix vulnerabilities and defects in proprietary code, open source components, and application behavior. With a combination of industry-leading tools, services, and expertise, only Synopsys helps organizations optimize security and quality in DevSecOps and throughout the software development life cycle. Learn more at https://www.synopsys.com/software-integrity.

About Synopsys

Synopsys, Inc. (Nasdaq: SNPS) is the Silicon to Software™ partner for innovative companies developing the electronic products and software applications we rely on every day. As an S&P 500 company, Synopsys has a long history of being a global leader in electronic design automation (EDA) and semiconductor IP and offers the industry's broadest portfolio of application security testing tools and services. Whether you're a system-on-chip (SoC) designer creating advanced semiconductors, or a software developer writing more secure, high-quality code, Synopsys has the solutions needed to deliver innovative products. Learn more at https://www.synopsys.com

Forward-Looking Statements

This press release contains forward-looking statements, including, but not limited to, statements relating to the expected benefits of the transaction.  Forward-looking statements are subject to both known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. These risks and uncertainties include, among others, Synopsys' ability to operate or integrate Code Dx's assets and employees with its own successfully, which may include a potential loss of customers, key employees, partners or vendors, and uncertain customer demand for Code Dx's products and solutions. Other risks and uncertainties that may apply are set forth in the Risk Factors section of Synopsys' most recently filed Quarterly Report on Form 10-Q. Synopsys assumes no obligation to update any forward-looking statement contained in this press release.

Editorial Contact:
Simone Souza
Synopsys, Inc.
650-584-6454
simone@synopsys.com

Investor Contact:
Lisa Ewbank
Synopsys, Inc.
650-584-1901
synopsys-ir@synopsys.com

 

View original content:http://www.prnewswire.com/news-releases/synopsys-acquires-code-dx-to-extend-application-security-portfolio-301307876.html

SOURCE Synopsys, Inc.

FAQ

What is the purpose of Synopsys' acquisition of Code Dx?

The acquisition aims to enhance Synopsys' application security risk management capabilities, offering consolidated risk reporting and vulnerability prioritization.

How does the Code Dx acquisition impact Synopsys?

It allows Synopsys to extend its security testing tools and services, improving its position in the application security market.

What are the terms of the Synopsys and Code Dx acquisition?

The terms of the deal have not been disclosed but are considered non-material to Synopsys' financials.

When was the acquisition of Code Dx by Synopsys announced?

The acquisition was announced on June 8, 2021.

What benefits does Code Dx provide Synopsys customers?

Code Dx offers automated vulnerability prioritization and consolidated risk reporting across various application security products.