Synopsys to buy Springsoft for $406 million

Reuters News
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Posted: Aug 03, 2012 5:44 AM
Synopsys to buy Springsoft for $406 million

(Reuters) - Chip-design software maker Synopsys Inc <SNPS.O> will buy Taiwan's Springsoft Inc <2473.TW> for $406 million, the United States-based company said on Friday, helping to strengthen its presence in Asian, European and U.S. semiconductor markets.

Synopsys will offer T$57, or $1.90 per share for all the outstanding shares of Springsoft. The deal is worth $305 million net of cash acquired, Synopsys said and will add to its 2013 non-GAAP earnings per share.

California-based Synopsys, which competes with Cadence Design Systems Inc <CDNS.O> and Mentor Graphics Corp <MENT.O>, bought Magma late last year, to add complementary technology to its portfolio.

(Reporting by Adithya Venkatesan in Bangalore; Editing by Helen Massy-Beresford)