Synopsys Taps Veteran Security Leader Jason Schmitt as GM of its Software Integrity Group

Rhea-AI Summary

Synopsys, Inc. (Nasdaq: SNPS) announces the appointment of Jason Schmitt as general manager of the Software Integrity Group. Schmitt, a seasoned leader with over 20 years of experience, has previously been CEO of Aporeto and held key roles at major tech companies. Synopsys aims to scale its Software Integrity business from over $300 million towards $500 million to $1 billion in revenue. Schmitt's expertise is expected to address emerging cybersecurity challenges and enhance the company's strategic goals in application security amidst the evolving DevOps landscape.

Positive

• Appointment of experienced leader Jason Schmitt as GM of the Software Integrity Group.
• Schmitt's extensive background in security and product development is expected to strengthen Synopsys' market position.
• Software Integrity business has over $300 million in revenue, indicating strong financial performance.
• Strategic goal to grow revenue to $500 million to $1 billion, reflecting positive growth prospects.

Negative

• None.

MOUNTAIN VIEW, Calif., Aug. 3, 2020 /PRNewswire/ -- Synopsys, Inc. (Nasdaq: SNPS) today announced that Jason Schmitt has joined Synopsys as the general manager of the Software Integrity Group and member of the senior executive team. Schmitt is a seasoned leader with a proven track record of deep technical knowledge, product development, and go-to-market strategy and implementation, providing valuable insight into emerging and rapidly changing cybersecurity challenges.

Schmitt brings more than 20 years of experience in security and enterprise product development and management. Most recently, Schmitt was CEO of Aporeto, an innovative SaaS/cloud company that was purchased by Palo Alto Networks in December of 2019. Prior to Aporeto, he was vice president and general manager of Enterprise Security Products at Hewlett Packard, where he led all aspects of the ArcSight security operations and Fortify application security businesses. Schmitt has also held leadership roles at Barracuda Networks, Steelbox Networks, Ariba, SPI Dynamics and Accenture.

"We are excited to have someone of Jason's caliber and recognized ability to grow and scale cybersecurity businesses," said Chi-Foon Chan, co-CEO of Synopsys. "Our Software Integrity business is an acknowledged leader in the emerging software security and quality testing market, with more than $300 million of revenue and the broadest portfolio available today. We look forward to Jason's leadership in taking the business to the next level, scaling towards our next objective of $500 million to $1 billion."

"It is a privilege to join Synopsys and extend a long history of innovation and market leadership," said Jason Schmitt, general manager of the Software Integrity Group. "As application security transitions to meet the velocity and requirements of DevOps, the unmatched breadth of the Synopsys portfolio and talented team uniquely position Synopsys to help our customers with today's security challenges and to expand our leadership." 

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 the world's 15^th largest software company, Synopsys has a long history of being a global leader in electronic design automation (EDA) and semiconductor IP and is also growing its leadership in software security and quality solutions. Whether you're a system-on-chip (SoC) designer creating advanced semiconductors, or a software developer writing applications that require the highest security and quality, Synopsys has the solutions needed to deliver innovative, high-quality, secure products. Learn more at www.synopsys.com.

Safe Harbor for Forward-Looking Statements

This press release contains forward-looking statements, including statements related to Synopsys' business and financial objectives. 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. These risks and uncertainties include, but are not limited to: the effect of the covid-19 pandemic and the associated economic downturn on our business, operations and financial condition; and actions by the United States or foreign governments, such as the imposition of additional tariffs or export restrictions, which could interfere with our business operations or our ability to provide products and services in certain countries. 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 L. Ewbank
Synopsys, Inc.
650-584-1901
Synopsys-ir@synopsys.com

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SOURCE Synopsys, Inc.

FAQ

Who is Jason Schmitt and what is his role at Synopsys?

Jason Schmitt is the newly appointed general manager of the Software Integrity Group at Synopsys, bringing over 20 years of experience in security and product development.

What are Synopsys' revenue goals for the Software Integrity business?

Synopsys aims to scale its Software Integrity business revenues from over $300 million to between $500 million and $1 billion.

What experience does Jason Schmitt bring to Synopsys?

Jason Schmitt has a robust background, including previous roles as CEO of Aporeto and VP at Hewlett Packard, focusing on security products.

How is Synopsys addressing cybersecurity challenges?

With Schmitt's leadership, Synopsys is positioned to tackle emerging cybersecurity challenges through its Software Integrity portfolio.