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MOUNTAIN VIEW, Calif., June 21, 2021 /PRNewswire/ -- Synopsys, Inc. (NASDAQ: SNPS) today announced that it has signed a definitive agreement to acquire the semiconductor and flat panel display solutions from BISTel, a leader in engineering equipment systems and AI applications for semiconductor smart manufacturing, headquartered in South Korea. When completed, the acquisition will broaden Synopsys' industry-leading process control solutions for semiconductor fabs with an integrated and comprehensive yield management and prediction solution to enhance manufacturing quality and efficiency. The acquisition will also add a team of experienced engineers to accelerate technology development using real-time manufacturing predictive analysis.
The transaction is subject to customary closing conditions and is expected to close in Synopsys' fourth quarter of fiscal year 2021. The terms of the deal, which are not material to Synopsys' financials, are not being disclosed.
"Semiconductor fabs are rising to the challenge of meeting market demand for products that drive the global economy," said Howard Ko, general manager of the Silicon Engineering Group at Synopsys. "Combining Synopsys' and BISTel's expertise in fab solutions will enable us to bring to market innovative process control products that help our customers maximize their economic opportunity."
Synopsys, Inc. (NASDAQ: SNPS) is the Silicon to Software™ partner for innovative companies developing the electronic products and software applications we rely on every day. As an S&P 500 company, Synopsys has a long history of being a global leader in electronic design automation (EDA) and semiconductor IP and offers the industry's broadest portfolio of application security testing tools and services. Whether you're a system-on-chip (SoC) designer creating advanced semiconductors, or a software developer writing more secure, high-quality code, Synopsys has the solutions needed to deliver innovative products. Learn more at https://www.synopsys.com.
This press release contains forward-looking statements, including, but not limited to, statements regarding the pending acquisition of BISTel, the parties' ability to close, the expected closing date of the transaction, and the expected benefits of the transaction. Forward-looking statements are subject to both 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: the ability of the parties to consummate the acquisition in a timely manner or at all; the satisfaction of the conditions precedent to consummation of the acquisition; the effect of the announcement of the pending acquisition on Synopsys' and BISTel's respective businesses; Synopsys' ability to operate or integrate BISTel's assets and employees with its own successfully, which may include a potential loss of customers, key employees, partners or vendors; and uncertain customer demand and support obligations for semiconductor and flat panel display solutions. Other risks and uncertainties that may apply are set forth in the Risk Factors section of Synopsys' most recently filed Quarterly Report on Form 10-Q. Synopsys assumes no obligation to update any forward-looking statement contained in this press release.
SOURCE Synopsys, Inc.