Magma Acquisition by Synopsys to Provide Customers with State-of-the-Art Mixed-Signal, Digital and Analog Design Solutions that Enable More Profitable Silicon

Under the terms of the merger agreement, Synopsys will acquire Magma for $7.35 per Magma share in cash, resulting in a transaction value of approximately $507 million net of cash and debt acquired. The boards of directors of both companies have unanimously approved the transaction. The closing of the merger is subject to customary conditions, including approval by Magma stockholders as well as U.S. regulators.

“Magma and Synopsys have always shared a common goal of enabling chip designers to improve performance, area and power while reducing turnaround time and costs on complex ICs,” said Rajeev Madhavan, CEO of Magma. “By joining forces now we can ensure that chip designers have access to the advanced technology they need for silicon success at 28, 20 nanometer and below.”