MOUNTAIN VIEW, Calif., June 7, 2015 /PRNewswire/ -- Synopsys, Inc. (Nasdaq: SNPS) has signed a definitive agreement to acquire Atrenta Inc., a privately held provider of SoC realization solutions for the semiconductor and consumer electronics industries. By integrating Atrenta's complementary static verification and implementation technology with Synopsys' Verification Continuum™ and Galaxy™ Design platforms, Synopsys can offer designers a more comprehensive, robust portfolio of silicon to software solutions for today's complex electronic systems.
"Atrenta's demonstrated leadership in static and formal technologies is recognized throughout the EDA industry, and its technology is used by design and verification teams around the world," said Manoj Gandhi, executive vice president and general manager of the Verification Group at Synopsys. "Synopsys expects to leverage this strong technology to further improve our Verification Continuum platform to address continually increasing verification challenges, and to support our ongoing R&D collaborations with customers in both verification and implementation."
"Atrenta's SpyGlass®, GenSys® and BugScope® solutions focus on driving efficiencies in SoC design and verification," said Ajoy Bose, chairman, president and CEO of Atrenta. "The integration of our technology into Synopsys' design and verification platforms will accelerate innovation in the industry and offer our mutual customers the benefit of a much stronger combined offering."
The terms of the deal are not being disclosed. The transaction is subject to Hart Scott Rodino regulatory review and other customary closing conditions, and is expected to close in the summer of 2015.
Synopsys, Inc. (Nasdaq: SNPS) is the Silicon to Software™ partner for innovative companies developing the electronic products and software applications we rely on every day. As the world's 15th largest software company, Synopsys has a long history of being a global leader in electronic design automation (EDA) and semiconductor IP, and is also a leader in software quality and security testing with its Coverity® solutions. Whether you're a system-on-chip (SoC) designer creating advanced semiconductors, or a software developer writing applications that require the highest quality and security, Synopsys has the solutions needed to deliver innovative, high-quality, secure products. Learn more at www.synopsys.com.
Safe Harbor Statement/Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, including statements regarding the pending acquisition of Atrenta, the expected closing of the transaction, the expected benefits of the transaction, and the expected integration of Atrenta's products and technology. Forward-looking statements are subject to both known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements, and that are outside Synopsys' control. Synopsys cautions stockholders and prospective investors not to place undue reliance on these statements. Such risks and uncertainties include, among others: the ability of the parties to consummate the acquisition in a timely manner or at all; the satisfaction of the conditions precedent to consummation of the acquisition, including the ability to secure regulatory approvals in a timely manner or at all; the effect of the announcement of the pending acquisition on Synopsys' and Atrenta's respective businesses, including possible delays in customer orders; Synopsys' ability to operate or integrate Atrenta's business and technologies with its own successfully, which may include a potential loss of customers, key employees, partners or vendors; and uncertain customer demand and support obligations for integrated product offerings. Other risks and uncertainties that may apply are set forth 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.
SOURCE Synopsys, Inc.