Synopsys to buy rival Magma for $507 million
Chip design software maker Synopsys announced today it has agreed to acquire rival Magma Design Innovations for $507 million in cash.
Synopsys will pay $7.35 a share for San Jose, Calif-based Magma, a 28 percent premium over its closing price Wednesday of $5.72.
Mountain View, Calif.-based Synopsys was founded in 1986 and competes with Cadence Design Systems and Mentor Graphics in the sector of making software to help designers create and verify complex integrated circuits.
"The dramatic rise in complexity of today's semiconductor designs for all process nodes requires an equally dramatic increase in designer … Read more