Electronic design automation company Synopsys Inc. today announced that it will sell its Software Integrity Group business to Clearlake Capital Group LP and Francisco Partners Management LP for up to $2.1 billion.

The acquisition figure is up to $2.1 billion only when including up to $475 million in cash payable upon Francisco Partners and Clearlake achieving a specified rate of return in connection with one of more liquidity — there’s an earn-out clause in the deal.

Upon completion of the deal, the Software Integrity Group will become a new standalone application security testing software provider. The name of the new company will be announced at a later date. Existing Software Integrity Group employees, including the management team, are expected to lead the new, privately held company when the transaction closes.

The Synopsys Software Integrity Group offers integrated software solutions designed to transform the way development teams build and deliver software, accelerating innovation while addressing business risk. The portfolio of software security products within SIG works with third-party and open-source tools, allowing organizations to leverage existing investments to build a security program that works for them.

The decision by Synopsys to sell its Software Integrity Group business comes down to the company wanting to focus on more core offerings.

“For Synopsys, this move sharpens our focus on the unprecedented, high-growth opportunity we have in our core business – where the engineering of silicon and systems is converging as technology R&D teams look to capitalize on this AI-driven era of pervasive intelligence,” Sassine Ghazi, president and chief executive officer of Synopsys, said in a statement.

The decision to sell the Software Integrity Group comes as Synopsys entered a deal to acquire engineering applications company Ansys Corp. for $35 billion in January. The deal sees Synopsys’ EDA solutions combined with Ansys’ simulation and analyst capabilities to deliver a seamlessly integrated silicon-to-systems approach to innovation.

Clearlake was previously in the news in December when it joined Insight Partners LP in acquiring artificial intelligence analysts platform company Alteryx Inc. for $4.4 billion. Francisco Partners, another voracious acquirer of companies, joined TPG Global LLC in July to acquire cloud observability platform provider New Relic Inc. for $6.5 billion.

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