Mergers and Acquistions News
Categories: Semi-Conductors
December 9th 2011, 16:13PM
Software and IP firm Synopsys, Inc has acquired chip designer Magma Design Automation Inc for $507 million (£323 million) net of cash and debt.
The deal will see Synopsys take over Magma for $7.35 per Magma share in cash, it has been announced.
Both based in California, the move will bring together complementary technology, development and support, projecting Synopsys further into the semiconductor market.
According to the companies, the M+A will allow both firms to more rapidly meet customer requirements of chip designs and mature process modes.
"The dramatic rise in complexity of today's semiconductor designs for all process nodes requires an equally dramatic increase in designer productivity," commented Aart de Geus, chairman and chief executive 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."
It is expected that the merger will close in the second quarter of 2012.
Lattice Semiconductor Corp has also announced this week that it will acquire SiliconBlue Technologies for $62 million in cash to grow its mobile market share.
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