Synplicity buys Hardi Electronics for $24 m

The ASIC prototyping market is one the fastest growing segments of the EDA industry, and this acquisition makes Synplicity the leader in this part of the ASIC verification market. HARDI's ASIC Prototyping System (HAPS) is used world-wide by industry-leading companies such as Broadcom, Conexant, LG, LSI Logic, Marvell, Matsushita, Nokia, NXP, Philips, Samsung, Sharp, Sony, and TI. Gary Meyers, CEO of Synplicity, stated, “This is a major strategic move for Synplicity. We will be able to immediately leverage our existing ASIC verification products (Certify, Synplify Premier, Identify, and Identify Pro) by selling them together with the HARDI ASIC prototyping boards. Next week, at the Design Automation Conference in San Diego, California, we will unveil our ASIC verification strategy that capitalizes on this acquisition. We're particularly excited about 2008 when we anticipate combined revenues in excess of $80 million." HARDI's ASIC prototyping systems work seamlessly with Synplicity's Certify and Synplify Premier synthesis products and its Identify and Identify Pro RTL debugging solutions. ASIC verification teams can use the combined Certify, Synplify Premier and HAPS system to quickly create multi-million gate FPGA systems to verify ASIC functionality in real time while enabling comprehensive software verification with interfaces to real-world stimuli. Synplicity's Identify and Identify Pro RTL debug products permit designers to conveniently debug these systems at the RTL level instead of with timing-consuming gate level interfaces. “We at HARDI are excited about joining forces with Synplicity," said Lars-Eric Lundgren, Founder and CEO at HARDI Electronics AB. “With Synplicity's product line and the combination of our sales channels, we now have the opportunity to offer a comprehensive best-in-class solution to the ASIC design community. We are committed to a successful integration of our companies." Synplicity will continue to support its world-wide customer base using FPGA prototypes built from custom-designed prototyping boards and those using off-the-shelf boards from other manufacturers through the Partners in Prototyping program. The acquisition is expected to close in June 2007, subject to customary conditions of closing. Updated 2007 financial guidance will be provided in Synplicity's second quarter earnings call.