UPDATE 1-Synopsys to sell software unit to Clearlake, Francisco in $2.1 bln deal

Reuters05-06

(Adds details in paragraphs 2 and 3)

May 6 (Reuters) - Synopsys will sell its software integrity $(SIG)$ unit to a private equity consortium led by Clearlake Capital and Francisco Partners in a deal valued at $2.1 billion, the chip designer said on Monday.

The deal includes up to $475 million in cash payable upon the consortium achieving a specified rate of return in connection with one or more liquidity transactions, according to a statement.

Reuters had reported last week that the consortium was in advanced talks to acquire the unit for more than $2 billion.

(Reporting by Harshita Mary Varghese; Editing by Sonia Cheema)

((HarshitaMary.Varghese@thomsonreuters.com;))

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