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Software | March 25, 2008

Synopsys to acquire Synplicity

Synopsys has signed a definitive agreement to acquire Synplicity, a supplier of field programmable gate array (FPGA) and IC design and verification solutions.
These products are developed for sectors such as communications, military/aerospace, semiconductor, consumer, computer, and other electronic applications markets.

Under the terms of the agreement, Synopsys will pay $8 cash per Synplicity share, which results in a gross transaction of about $227 million. The transaction is subject to regulatory and Synplicity shareholder approval as well as other customary closing conditions. It is expected to close in mid 2008. After the closing, Synplicity will become part of Synopsys and Synplicity stock will cease trading.

Synplicity President and CEO Gary Meyers will join Synopsys as a general manager. Synplicity Co-Founder, CTOfficer and Vice President Ken McElvain will join Synopsys to help architect the company's systems solutions.

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