Synopsys Enters Agreement to Acquire Avant!

December 03, 2001 by Jeff Shepard

Synopsys Inc. (Mountain View) and Avant! Corp. (Fremont, CA) announced that they have entered into a definitive agreement for Synopsys to acquire Avant!. Under the agreement, Avant! shareholders will receive 0.371 Synopsys shares for each outstanding Avant! share, and Avant! will become a wholly-owned subsidiary of Synopsys. The acquisition is expected to close within three to six months.

"The acquisition of Avant! and its key technology offerings brings our customers proven, advanced physical design technology that is a perfect complement for our physical synthesis products," stated Aart de Geus, chairman and CEO of Synopsys. "It allows us to assemble and deliver for our customers what we firmly believe is the best IC design flow in the industry."

"The combination of Synopsys and Avant! brings together the best technologies and product development teams in the industry," said Paul Lo, president of Avant!. "I believe that the combined company will become the preeminent supplier in the EDA industry."