Product category:
Design and Development Software
News Release from: Synopsys
Edited by the Electronicstalk Editorial
Team on 21 March 2008
Synopsys to acquire Synplicity
In addition to Synplicity's leading solutions for FPGAs, Synopsys will gain a differentiated rapid prototyping portfolio that complements its virtual prototyping business.
Synopsys has signed a definitive agreement to acquire Synplicity in a deal that will significantly expand its technology portfolio, channel reach and total addressable market In addition to Synplicity's leading solutions for FPGAs, Synopsys will gain a differentiated rapid prototyping portfolio that complements its virtual prototyping business
This article was originally published on Electronicstalk on 19 Apr 2001 at 8.00am (UK)
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Combining Synplicity's hardware-based rapid prototyping and Synopsys' software-based virtual prototyping solutions will enable electronics companies to meet tight market windows with proven designs, even as software content continues to grow exponentially.
Under the terms of the agreement, Synopsys will pay US $8 cash per Synplicity share, resulting in a gross transaction of approximately $227 million, and approximately $188 million net of cash acquired.
The transaction is subject to regulatory and Synplicity shareholder approval, as well as other customary closing conditions, and is expected to close in the second calendar quarter of 2008.
After the closing, Synplicity will become part of Synopsys and Synplicity stock will cease trading.
"Synplicity's strong product portfolio, expertise, and customer reach will be ideal complements to Synopsys", says Aart deGeus, Chairman and CEO of Synopsys.
"The combination will expand our presence in the systems and mid-tier market segments, will support our strategy to provide rapid prototyping capabilities to a broad set of customers to enable much faster software development, and will enhance Synplicity's already strong offering in FPGA implementation".
"The acquisition by Synopsys will allow us to scale Synplicity's FPGA and rapid prototyping business to help more designers successfully solve the increasingly complex problems associated with creating today's chips and systems", says Gary Meyers, President and CEO of Synplicity.
Synplicity President and Chief Executive Officer Gary Meyers will join Synopsys as a General Manager.
Synplicity cofounder, Chief Technical Officer and Vice President Ken McElvain will join Synopsys to help architect the company's systems solutions.
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