Thursday, May 7, 2009

LogicVision Acquired For $13M

An Oregon-based EDA software developer has agreed to acquire San Jose's LogicVision Inc. for some $13 million, the potential buyer announced Thursday. Wilsonville, Ore.-based Mentor Graphics said LogicVision stockholders will receive about a fifth of a share of Mentor Graphics common stock for each share of LogicVision common stock. Both Mentor and LogicVision are traded on the NASDAQ. Mentor said that both companies' boards have approved the merger. The transaction, which Mentor Graphics said should close during the third quarter, must also gain approval from LogicVision's stockholders and satisfy customary closing conditions. LogicVision provides built-in-self-test technologies used in silicon manufacturing.