|Acquiring Company:||Synopsys Inc View Profile Charts Homepage|
|Target Company:||SpringSoft Inc View Profile Charts Homepage|
|Announced:||Aug 03, 2012|
HSINCHU, TAIWAN, August 3, 2012—SpringSoft, Inc. (TAIEX:[ 2473 ]), a global
supplier of specialized IC design software, has signed a definitive agreement to be
acquired by Synopsys, Inc. (Nasdaq:[ SNPS]), a world leader in software and IP used
in the design, verification and manufacture of electronic components and systems.
Under the terms of the agreement, a Synopsys subsidiary will commence a tender offer
to acquire the outstanding shares of SpringSoft for NT$57.00 (approximately US$1.9)
per SpringSoft share in cash, subject to a minimum tender of shares by SpringSoft
shareholders and approvals from relevant authorities.
Upon the completion of the tender offer, the Synopsys subsidiary will conduct a followon
merger with SpringSoft, which is expected to close by the end of January 2013,
subject to approvals from relevant authorities and other customary closing conditions.
The gross transaction value, for the tender offer and merger taken as a whole, will be
approximately NT$12.2 billion (US$406 million). The proposed merger supports
SpringSoft’s mission to provide leadership and innovation in functional verification and
custom integrated circuit (IC) design by helping accelerate critical technology
development for customers in two of the most important areas of chip design.
“SpringSoft has successfully pursued a mission to provide leadership in functional
verification and custom IC design for many years. With this merger, we can augment
our solution in the debugging space with Synopsys’s verification platform. We can also
focus on delivering a complete flow in custom IC design, an area that has immense
untapped potential for breakthrough development,” said Martin Lu, CEO and chairman
at SpringSoft. “Synopsys is the right partner for achieving these goals because they
share our mission, complementary technology and are equally focused on delivering
what our customers need faster than ever before. The combined company can provide
even better customer support worldwide. Both our companies also have a common
commitment to investing in Taiwan and the greater Asian region.”
Upon the closing of the merger, SpringSoft will become part of Synopsys and
SpringSoft stock will cease trading.
|(add missing info)|
|(add missing info)|
|Aug 03 '12|