US chip-design software firm to buy Taiwan's Springsoft for $406 mn
04 Aug 2012
US chip-design software firm Synopsys Inc yesterday agreed to buy Taiwan's IC design software supplier Springsoft Inc for $406 million, in order to expand its presence in leading Asian, European and the US semiconductor markets.
Mountain View, California-based Synopsys will pay NT$57 ($1.90) per share in cash, valuing Springsoft at NT$12.2 billion ($406 million) or about $305 million net of cash acquired.
Synopsys said that the transaction, which is expected to close in the first quarter of fiscal 2013, is subject to the minimum tender of 51 per cent of SpringSoft shares.
Post closing, SpringSoft will become part of Synopsys.
SpringSoft specialises in electronic design automation technology for chips and systems. The Hsinchu, Taiwan-based company's products help semiconductor customers in solving design challenges, including verification, custom implementation and debugging process.
Synopsys, which competes with Cadence Design Systems Inc, said that verification requirements have exploded as designs have become increasingly complex, and debugging is the most time-consuming part of verification, taking up nearly half of the design cycle.