In a move to tap the growing demand for software security solutions across the Asia-Pacific region, Synopsys Inc. SNPS recently announced its decision to showcase the Software Integrity Platform at the Black Hat Asia event. The program is scheduled to be held from Mar 29 to Apr 1 in Singapore.
Synopsys’ Software Integrity Platform provides a complete suite of software security testing solutions for software signoff. The platform enables organizations to detect and fix “critical security vulnerabilities throughout the software development lifecycle and supply chain” quickly, thereby reducing overall risks, costs and time.
According to the company, “The Software Integrity Platform enables robust application security testing for software ranging from enterprise web applications to embedded software and IoT devices. The platform is designed to facilitate "software signoff," a unique and rigorous approach introduced by Synopsys to secure software with integrated development and testing processes.”
Synopsys expects that the need for security testing solutions will grow rapidly in the Asia-Pacific region supported by the growing number of software companies.
Synopsys sells electronic design automation software to the semiconductor and electronics industries. Apart from this, the company entered into software security market in 2014 with the acquisition of Coverity, a software quality, testing and security tools provider. Since then it has been trying to expand its capabilities in the security space through various buyouts such as, Seeker, Codenomicon, Goanna and Protecode.
In the current economic scenario, customers are strengthening supplier relationships and focusing on cost efficiencies, which have led to higher adoption of Synopsys’ products. Notably, the company’s first-quarter fiscal 2016 revenues witnessed 4.9% year-over-year increase driven by higher adoption.
We believe that the company’s sustained focus on product launches, acquisitions and deal wins will boost results, going ahead. Moreover, its unique intellectual properties and global support will drive results. Additionally, the company’s acquisitions will expand its reach in the software quality, testing and security tools market.
However, competition from Cadence Design Systems Inc. CDNS and Mentor Graphics Corp. MENT, a challenging technology spending environment and uncertainty regarding the exact time of realizing acquisition synergies keep us on the sidelines.
Currently, Synopsys has a Zacks Rank #3 (Hold). A better-ranked stock in the same space is MicroStrategy Inc. MSTR, sporting a Zacks Rank #1 (Strong Buy).
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