Product category:
Design and Development Software
News Release from: Synopsys
Edited by the Electronicstalk Editorial
Team on 16 January 2003
Synopsys acquires lithography-enabling
solutions
Synopsys is to acquire all outstanding shares of Numerical Technologies common stock for a cash purchase price of $7.00 per share.
Synopsys is to acquire all outstanding shares of Numerical Technologies common stock for a cash purchase price of $7.00 per share The acquisition brings together leaders in electronic design automation and lithography-enabling solutions, helping to reduce costs and risk for customers designing advanced integrated circuits
This article was originally published on Electronicstalk on 19 Apr 2001 at 8.00am (UK)
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"Design for manufacturing issues will continue to gain importance as designs inevitably shrink toward the 65nm mark.
Combining Numerical's lithography-enabling solutions with Synopsys' design tools will enable us to further reduce costs and manufacturing risk for customers involved in creating smaller, faster and more power-efficient chips", said Aart de Geus, Chairman and Chief Executive Officer of Synopsys.
"By bringing together our complementary technologies and adding Numerical's well-respected technologists to our team, Synopsys will be able to deliver more complete design-to-silicon solutions to address changing design for manufacturing needs".
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"Merging Numerical and Synopsys will help create technology and solutions that speed production of advanced, subwavelength ICs and improve yield by transparently embedding mask and lithography requirements into the EDA flow and into tools that designers are currently using", said Naren Gupta, Numerical's interim President and Chief Executive Officer.
"We are extremely excited about the merger of these two leaders since we have long believed that the intersection of these two areas can deliver subwavelength-enabling solutions to fuel the growth of the semiconductor industry.
Our enthusiasm in joining with Synopsys is further driven by Synopsys' unerring commitment to technical excellence".
The acquisition will be effected by means of a cash tender offer of all of the outstanding shares of Numerical for a cash purchase price of $7.00 per share, followed by a second-step merger in which Synopsys would acquire any untendered Numerical shares at the same price per share.
The acquisition is subject to certain conditions, including the tender of a majority of the fully diluted shares of Numerical, receipt of regulatory approvals, and other customary conditions.
Synopsys will also assume all outstanding Numerical stock options in the transaction.
The total transaction value is approximately $250 million.
Synopsys expects the acquisition will be dilutive in fiscal year 2003 by less than 10 cents per fully diluted share on an earnings before goodwill basis, and accretive in fiscal year 2004.
The boards of directors of both companies have approved the transaction.
In addition, Numerical's executive officers and directors, who collectively own approximately 20% of the outstanding shares of Numerical, have agreed to tender their shares to Synopsys in the transaction.
The transaction is expected to close during the first calendar quarter of 2003.
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