Asset Acquisition to Facilitate Expansion in the Fast-Growing Rapid Prototyping Segment
MOUNTAIN VIEW, Calif., Dec. 1 /PRNewswire-FirstCall/ -- Synopsys, Inc. (NASDAQ: SNPS), a world leader in software and IP for semiconductor design and manufacturing, today announced it has signed a definitive agreement to acquire the CHIPit business unit of ProDesign, a leading provider of high-speed ASIC and System-on-Chip (SoC) verification systems. The acquisition of complementary talent, technology and products expands Synopsys' total addressable market by addressing the needs of customers who want to deploy more automated prototypes with additional co-verification features.
"This acquisition establishes Synopsys as a technology leader in end-to-end verification by enabling us to extend our strong presence with Confirma in the rapid prototyping market segment to adjacent hardware-assisted verification segments," said Gary Meyers, vice president and general manager, Synplicity Business Group, Synopsys. "By combining Synopsys' and CHIPit's strong teams and technologies, we can accelerate our ability to address every phase in the verification cycle, in particular for system validation and embedded software development."
ProDesign is a privately held company headquartered in Bruckmuhl, Germany. Its CHIPit line of ASIC prototyping tools provides verification and validation through the SoC and ASIC project life cycles. Based on the latest FPGA technologies and an integrated set of tools with comprehensive debug capabilities, the modular CHIPit tools give design engineers unprecedented productivity and flexibility to verify chip implementation and system functionality, thus significantly reducing overall verification time.
The transaction is subject to customary closing conditions and is expected to close within Synopsys' first quarter of fiscal year 2009. 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 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 60 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 closing of Synopsys' acquisition of the CHIPit business unit of ProDesign, impact on Synopsys financial results, potential benefits of the proposed transaction to Synopsys, and integration of CHIPit products and technologies into Synopsys' products and solutions. All forward-looking statements are based on the opinions and estimates of management at the time the statements are made and involve 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 to the transaction, our ability to integrate the businesses and technologies of the merged companies, and customer demand for the integrated technologies and product offerings. Additional information concerning other risk factors is contained in the Risk Factors sections of Synopsys' most recently filed Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. 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.
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