MOUNTAIN VIEW, Calif., May 8 /PRNewswire-FirstCall/ -- Synopsys, Inc. (NASDAQ: SNPS), a world leader in software and IP for semiconductor design and manufacturing, today announced it has acquired the Analog Business Group of MIPS Technologies, Inc. (NASDAQ: MIPS) for $22 million in cash. The acquisition expands Synopsys' DesignWare(R) intellectual property (IP) portfolio with a new family of analog IP such as Analog-to-Digital Converters, Digital-to-Analog Converters, Audio Codecs and Power Management. It will also add HDMI TX and RX protocols to Synopsys' existing interface IP solution.
Synopsys has been an established IP provider for more than a decade, providing complete solutions consisting of digital controllers, PHY and Verification IP for widely used protocols such as USB, PCI Express, DDR, SATA and Ethernet. Synopsys expects the acquisition to benefit designers in a number of ways, including:
-- Providing access to an even broader portfolio of high-quality interface and analog IP that supports the latest connectivity standards, process technologies and foundries - all from a single, trusted vendor; and -- Continuing to maintain the quality standards and excellent technical support which customers are accustomed to receiving from Synopsys.
"With this acquisition, Synopsys is well-positioned to provide our customers with a strong interface and analog IP portfolio that is silicon-proven, shipping in volume and unmatched in the industry," said Joachim Kunkel, vice president and general manager of the Solutions Group at Synopsys. "One of the reasons designers turn to Synopsys is because they have trust in the IP and know that we will be there for the long term. With the addition of the new analog IP products and the highly skilled engineering team, our customers will benefit from a broader portfolio of high quality IP, thereby reducing risk and speeding time-to-market."
Synopsys, Inc. (NASDAQ: SNPS) is the world leader in electronic design automation (EDA), supplying the global electronics market with the software, intellectual property (IP) and services used in semiconductor design and manufacturing. Synopsys' comprehensive, integrated portfolio of implementation, verification, IP, manufacturing and field-programmable gate array (FPGA) solutions helps address the key challenges designers and manufacturers face today, such as power and yield management, software-to-silicon verification and time-to-results. These technology-leading solutions help give Synopsys customers a competitive edge in bringing the best products to market quickly while reducing costs and schedule risk. Synopsys is headquartered in Mountain View, California, and has more than 60 offices located throughout North America, Europe, Japan, Asia and India. Visit Synopsys online at http://www.synopsys.com/.
Safe Harbor Statement/Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. federal securities laws, including statements regarding the expected benefits of the proposed transaction to Synopsys and its customers. Forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. These risks and uncertainties include, among others, Synopsys' ability to integrate the businesses and technologies and to manage the impact on financial results following the acquisition as well as customer demand for the new technologies and product offerings. Additional information concerning other risk factors is contained in the Risk Factors section of Synopsys' most recently filed Quarterly Report on Form 10-Q. Synopsys assumes no obligation to update any forward-looking statement contained in this press release.
Synopsys and DesignWare are registered trademarks of Synopsys, Inc. All other trademarks mentioned in this release are the intellectual property of their respective owners.
Editorial Contact: Yvette Huygen Synopsys, Inc. 650-584-4547 email@example.com Investor Contact: Lisa Ewbank Synopsys, Inc. 650-584-1901
Web site: http://www.synopsys.com/