MOUNTAIN VIEW, Calif., Jan. 23, 2012 /PRNewswire/ -- Synopsys, Inc. (Nasdaq: SNPS), a world leader in software and IP used in the design, verification and manufacture of electronic components and systems, announced today that it has closed the acquisition of ExpertIO, Inc., a leading independent provider of verification IP (VIP) for industry standard protocols. The addition of ExpertIO's team of protocol experts and its strong portfolio of storage VIP will accelerate Synopsys' delivery of a broad line-up of high-performance, easy-to-use, full-featured VIP that can help designers address their growing verification challenges. The terms of the deal have not been disclosed.

With leading SoC designs deploying more complex protocols, VIP has become a critical component of the verification environment. Synopsys is focused on delivering a broad portfolio of leading standards-based VIP to help engineers address the growing verification challenges associated with creating today's 'smart' electronics. VIP provides functional models of on- and off-chip protocols that verification engineers use to test all of the interfaces on an SoC before manufacturing. It enables the engineer to verify how an interface conforms to published standards and also allows the engineer to verify the interactions among various interfaces on an SoC.

"ExpertIO is a recognized leader in the delivery of storage protocol VIP with a team of veteran engineers that has been at the forefront of driving its underlying standards," said Manoj Gandhi, senior vice president and general manager of Synopsys' Verification Group. "By acquiring ExpertIO, Synopsys adds a new set of storage protocols to our expanding VIP portfolio, plus an experienced team of development experts to help us drive the next level of innovation in VIP technology."

ExpertIO's entire team of engineers is joining Synopsys' Verification Group. Craig Stoops, ExpertIO's Founder and CEO, is joining the team as a technical leader helping drive Synopsys' VIP roadmap.

About Synopsys
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, system-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 approximately 70 offices located throughout North America, Europe, Japan, Asia and India. Visit Synopsys online at http://www.synopsys.com.

Safe Harbor Statement
This press release contains forward-looking statements within the meaning of U.S. federal securities laws, including the anticipated effect of the acquisition on Synopsys' VIP business and VIP expertise, and the effect of the acquisition on our development efforts. 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, and that are outside our control. These risks and uncertainties include, among others: the effect of the announcement of the transaction on our businesses and our ability to operate or integrate ExpertIO's business and technologies with our own successfully. Other risks and uncertainties that may apply are set forth in the Risk Factors section of our 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.

Editorial Contact:
Yvette Huygen
Synopsys, Inc.
650-584-4547
yvetteh@synopsys.com

Investor Contact:
Lisa Ewbank
Synopsys, Inc.
650-584-1901

SOURCE Synopsys, Inc.