MOUNTAIN VIEW, Calif.– Synopsys, Inc. (NASDAQ: SNPS) announced it has completed its acquisition of Synplicity®, Inc. (NASDAQ: SYNP), a leading supplier of innovative field programmable gate array (FPGA) and IC design and verification solutions that serve a wide range of communications, military/aerospace, semiconductor, consumer, computer, and other electronic applications markets. The acquisition expands Synopsys' technology portfolio, channel reach and total addressable market by adding complementary products and expertise for FPGA solutions and rapid ASIC prototyping. Synopsys acquired Synplicity for $8 cash per share, resulting in a gross transaction of approximately $223 million, or approximately $181 million net of cash acquired.
As a result of the acquisition, Synopsys has formed a Synplicity Business Group with Synplicity President and Chief Executive Officer Gary Meyers as its general manager. Synplicity Co-Founder and CTO Ken McElvain has joined the group to help architect Synopsys' system level solutions.
Filed Under: Semiconductor, Electronics • electrical, Software