Synopsys, a world leader in software and IP for semiconductor design, verification and manufacturing, and Virage Logic Corporation, a leading independent provider of semiconductor intellectual property (IP) for the design of complex integrated circuits, yesterday announced they have signed a definitive agreement for Synopsys to acquire Virage Logic. Virage Logic’s offering will complement Synopsys’ DesignWare® interface and analog IP portfolio by adding embedded memories with test and repair, non-volatile memories (NVMs), standard cell libraries, and programmable cores for control and multimedia sub-systems. With this acquisition, Synopsys will strengthen its ability to help design teams achieve their system-on-chip (SoC) development goals by providing them with a more comprehensive portfolio of production-proven, high-quality IP and excellent worldwide technical support. Under the terms of the agreement, Synopsys will pay $12.00 cash per Virage Logic share, resulting in a transaction value of approximately $315 million, or approximately $289 million net of cash acquired. The transaction is subject to regulatory and Virage Logic shareholder approval, as well as other customary closing conditions. The boards of directors of both companies have approved the transaction, and Virage Logic President and CEO Alex Shubat will join Synopsys. After the closing, Virage Logic will become part of Synopsys, and Virage Logic stock will cease trading. "Bringing Synopsys and Virage Logic together broadens our portfolio and builds on two very strong technical teams." “By joining forces with Synopsys’ impressive engineering team and by gaining access to their global channel, we will be able to accelerate the development and delivery of our broad product offering to help customers meet their design-for-profitability goals. I am excited to join Synopsys to further my original vision," said Alex Shubat.
