Monday, December 3, 2012

Synopsys completes acquisition of SpringSoft

USA: Synopsys Inc. has completed the acquisition of SpringSoft, a global supplier of specialized IC design software headquartered in Hsinchu, Taiwan, through a follow-on merger to acquire all of the remaining outstanding shares of SpringSoft.

Previously, on October 1, 2012, Synopsys completed a tender offer for approximately 91.64 percent of SpringSoft's outstanding Shares. As of November 30, 2012, Synopsys is the 100 percent owner of SpringSoft and SpringSoft stock is no longer trading.

The acquisition increases Synopsys' investment in Taiwan by growing local engineering expertise, technology development capabilities and customer support. The combination of SpringSoft's and Synopsys' technology portfolios will help accelerate delivery of a unified, powerful system-on-chip (SoC) debug platform, and a higher level of automation in custom implementation tools to customers.

Synopsys, through its Taiwan subsidiary, acquired all of the outstanding shares of SpringSoft for NT$57.00 (approximately $1.95) per SpringSoft share in cash. The final gross transaction value was approximately $417 million (NT$12.2 billion), or approximately $320 million (NT$9.4 billion) net of cash acquired.

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