Synopsys to acquire Virage Logic
1 min read
Synopsys has announced it is to acquire Virage Logic Corporation, an independent provider of semiconductor intellectual property for the design of complex integrated circuits. The transaction value is approximately $315million and subject to regulatory and Virage Logic shareholder approval.
Synopsys, a specialist in software and IP for semiconductor design, verification and manufacturing, says the acquisition will strengthen its ability to provide a more comprehensive portfolio of IP and global technical support.
The boards of directors of both companies have approved the transaction, and Virage Logic president and ceo Alex Shubat will join Synopsys. Once complete, Virage Logic will become part of Synopsys, and Virage Logic stock will cease trading.
Dr Alex Shubat (pictured), president and ceo of Virage Logic, said: "When I co-founded Virage Logic in 1996, it was with the belief that a semiconductor IP company could provide the technically superior building blocks that the industry needed to accelerate development of high quality, cost effective end products. Today, the transition to a fabless, or 'fab-lite' model, coupled with the explosion in SoC product development costs at the advanced process nodes, has resulted in an escalating need by the semiconductor manufacturers for production proven IP. By joining forces with Synopsys' impressive engineering team and by gaining access to their global channel, we will be able to accelerate the development and delivery of our broad product offering to help customers meet their design-for-profitability goals. I am excited to join Synopsys to further my original vision."
The transaction is expected to close in the fourth quarter of Synopsys' fiscal 2010.
