MOUNTAIN VIEW, Calif., Feb. 8 /PRNewswire-FirstCall/ -- Synopsys, Inc. (NASDAQ: SNPS), a world leader in software and IP for semiconductor design, verification and manufacturing, today announced it has signed a definitive agreement to acquire CoWare, Inc., a global supplier of software and services for electronic systems design. When completed, the acquisition will expand Synopsys' portfolio of system-level design and verification products used in wireless, consumer and automotive design.
"System-level design and verification solutions have been gaining traction among developers as chips have gotten more complex and embedded software has become more pervasive," said Joachim Kunkel, senior vice president and general manager of the Solutions Group at Synopsys. "With the completion of the CoWare acquisition, Synopsys will be able to develop and bring new standards-based solutions to market so engineers can more quickly design processor and software-intensive products."
The transaction is subject to customary closing conditions, including HSR (Hart-Scott-Rodino) review, and is expected to close within Synopsys' second quarter of fiscal year 2010. The terms of the deal are not being disclosed.
Synopsys, Inc. (NASDAQ: SNPS) is a world leader in electronic design automation (EDA), supplying the global electronics market with the software, intellectual property (IP) and services used in semiconductor design, verification and manufacturing. Synopsys' comprehensive, integrated portfolio of implementation, verification, IP, manufacturing and field-programmable gate array (FPGA) solutions helps address the key challenges designers and manufacturers face today, such as power and yield management, software-to-silicon verification and time-to-results. These technology-leading solutions help give Synopsys customers a competitive edge in bringing the best products to market quickly while reducing costs and schedule risk. Synopsys is headquartered in Mountain View, California, and has more than 65 offices located throughout North America, Europe, Japan, Asia and India. Visit Synopsys online at http://www.synopsys.com/.
Safe Harbor Statement/Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. federal securities laws, including statements regarding the expected benefits of the proposed transaction to Synopsys and its customers, and the planned integration of CoWare's products and technologies into Synopsys' products and solutions. Forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. These risks and uncertainties include, among others, satisfaction of closing conditions for the acquisition, including the receipt and timing of HSR approval for the transaction; Synopsys' ability to integrate the businesses and technologies and to manage the impact on financial results following the acquisition; customer demand for the new technologies and product offerings, as well as other risk factors as described in the Risk Factors section of Synopsys' most recently filed Annual Report on Form 10-K. Synopsys assumes no obligation to update any forward-looking statement contained in this press release.
Synopsys is a registered trademark of Synopsys, Inc. All other trademarks mentioned in this release are the intellectual property of their respective owners.
SOURCE: Synopsys, Inc.
Web site: http://www.synopsys.com/