Mountain View-Based Synopsys to Acquire SpringSoft in $406M Deal

Mountain View, Calif. -- Synopsys, a Mountain View-based provider of software and IP used in the design, verification and manufacture of electronic components and systems, said it will acquire Taiwan-based SpringSoft, a maker of specialized IC design software, in a deal valued at $406 million. Under the agreement, Synopsys launch a cash tender offer to acquire the outstanding shares of SpringSoft for approximately $1.90 a share. The deal, which requires Synopsis to acquire at least a 51% stake, is expected to close in the first quarter of fiscal 2013. "This acquisition will increase Synopsys' investment in Taiwan by growing our local engineering expertise, technology development capabilities and customer support," said Chi-Foon Chan, the president and co-CEO of Synopsys.
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