Wednesday, November 30, 2011

Synopsys Buys Magma Design Automation

Mountain View-based Synopsys, the developer of semiconductor design verification software, said Wednesday that it is in a definitive agreement to acquire San Jose-based Magma Design Automation. The deal is worth approximately $507M net of cash and debt acquired, or $7.35 per Magma share in cash. Synopsys said the move will enable it to more rapidly meet customer requirements in chip design. Magma also develops chip design software.