Synopsys planning SpringSoft acquisition
Synopsys has signed a definitive agreement to acquire Taiwan-based firm SpringSoft.
Synopsys is to expand its operations in the electronic components market with the acquisition of integrated circuit design software specialist SpringSoft.
It has signed a definitive agreement to acquire the firm through its Taiwan subsidiary in a deal that carries a gross value of around $406 million (£261 million).
SpringSoft, which is based in Hsinchi, Taiwan, will enable Synopsys to "quickly and effectively deliver the advanced capabilities that will help semiconductor customers solve their toughest design challenges", Synopsys said in a statement.
Both companies are likely to have employed merger and acquisition advisors to assist with the negotiation of the deal, which is expected to be completed in the first fiscal quarter of 2013.
It is subject to regulatory approval in Taiwan, as well as the minimum tender of 51 per cent of SpringSoft shares that are currently outstanding and the approval of SpringSoft shareholders.
Synopsys is based in California but has over 60 offices worldwide, in Europe, India and North America, as well as Japan and Asia.
Posted by Edel Quinn
Source: Synopsys press release, August 3rd 2012