STAFF at the Belfast operation of US cyber security software firm Black Duck will have a new signatory on their pay cheques from next month after their parent company was acquired yesterday in a half billion dollar cash deal.
The privately-owned Black Duck, whose products automate the process of securing and managing open-source software, including detecting license compliance issues, is being acquired by Synopsys, which is headquartered in California.
Synopsys, the publicly traded maker of semiconductor-design software, will pay around $565 million (£432 million), and it will assume certain equity of Black Duck employees.
The deal is expected to close in the next 45-60 days, and Synopsys - which has been keen on expanding its security product offerings in the open-source arena - said the acquisition "will enhance our efforts in the software security market by broadening our product offering and expanding customer reach."
A year ago Black Duck - whose 2,000-strong customer base includes Intel and Nintendo - revealed plans to create 58 jobs in Belfast, paying average salaries of £37,000, in a major investment supported to the tune of nearly £350,000 by Invest NI.
Half of those posts are already in place, and Black Duck chief executive and president Lou Shipley says the acquisition by Synopsys "is likely to speed up future hiring" by the company in Northern Ireland.
Mr Shipley flew into Belfast to personally update staff on details of the takeover and to reassure them that the company's ambitious growth plans will be maintained.
Speaking to the Irish News he said: "This is a good news transaction for our company and its staff.
"Our security software, which automates the detection of vulnerabilities and weaknesses in open-source software, is expected to give Synopsys clients better visibility into the shape of their open-source usage and applications, as well as any potential security risks.
"Black Duck may be diminutive in size, but our software delivers a big value punch because it solves a challenge that most companies are currently struggling with."
Meanwhile Moira-based specialist contractor McMullen Facades has been put up for sale after its immediate parent company Lakesmere Group Ltd entered administration.
McMullen, which employs around 275 staff in the design, fabrication and installation services for medium and large scale building projects, is itself not in administration and continues to trade solvently.
But its ultimate parent Graceful Holdings Ltd, which owns Lakesmere, has called in administrators from Deloitte, and around half of Lakesmere's 240 staff have been made redundant.
A spokesman for Deloitte said: "We are currently assessing the options available, including a potential sale of McMullen Facades Ltd, which is continuing to trade solvently."
