30 Nov '11, 11pm

Synopsys to buy Magma for $507 million: via @ee_times

SAN FRANCISCO—EDA and IP vendor Synopsys Inc. said Wednesday (Nov. 30) it signed a definitive agreement to acquire rival EDA vendor Magma Design Automation Inc. in a deal worth about $507 million. Synopsys (Mountain View, Calif.) said it plans to pay $7.35 for each share of Magma. Synopsys said it plans to fund the deal with a combination of cash and debt. The deal, which is expected to close in the second quarter of 2012, would be the biggest acquisition in EDA in years. It would also bring together competitors who have traditionally been fierce rivals. In the 2000s, Synopsys and Magma fought a long running legal battle over allegations that a co-founder of Magma conceived of technology that unpinned Magma's products while working at Synopsys. The suit, which culminated with a trial in 2006, was settled in 2007. Aart de Geus, Synopsys' chairman and CEO, said the companies...

Full article: http://www.eetimes.com/electronics-news/4231034/Synopsys-...

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