Synopsys narrows down suitors for security unit to half dozen, CEO says
SANTA CLARA, California (Reuters) - Synopsys CEO Sassine Ghazi said on Wednesday the company had narrowed down potential suitors for its security software unit to about half a dozen.
The company said last year it will sell its software integrity business unit, which Bloomberg News has reported could be valued at $3 billion.
At the company's annual developer conference in Santa Clara, Ghazi said about three dozen possible buyers showed interest.
Its board has approved the initiation process for the sale of the unit.
"It's a very competitive process with a lot of interested parties," Ghazi said. He did not give a timeline for the completion of a deal.
(Reporting by Stephen Nellis in Santa Clara, California; Additional reporting by Harshita Mary Varghese; Editing by Chris Reese and Devika Syamnath)
