Synopsys to acquire Magma Design Automation for $507 million

Synopsys to acquire Magma Design Automation for $507 million

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Synopsys has signed a definitive agreement to acquire Magma Design Automation. This acquisition brings together complementary technologies, development and support capabilities to more rapidly meet customer requirements linked to chip designs at both leading-edge and mature process nodes.
By eeNews Europe

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Under the terms of the merger agreement, Synopsys will acquire Magma for $7.35 per Magma share in cash, resulting in a transaction value of approximately $507 million net of cash and debt acquired. The boards of directors of both companies have unanimously approved the transaction. The closing of the merger is subject to customary conditions, including approval by the stockholders of Magma as well as U.S. regulators.

"The dramatic rise in complexity of today’s semiconductor designs for all process nodes requires an equally dramatic increase in designer productivity. Customers are either dealing with the very complex physics of 20-nanometer design or they are squeezing the last bit of performance and cost from designs at mature, high-value nodes. To achieve success, our customers are asking for more new EDA capabilities than ever before," said Aart de Geus, chairman and CEO at Synopsys. "This acquisition will enable Synopsys to accelerate the delivery of the technology our customers need to keep the overall cost of design in check."

Visit Synopsys at www.synopsys.com

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