Acquisition Broadens DesignWare IP Portfolio and Adds a Team of Experienced R&D Engineers to Accelerate Physical IP Development
MOUNTAIN VIEW, Calif., Jan. 17, 2020 /PRNewswire/ --
Highlights
Synopsys, Inc. (Nasdaq: SNPS) today announced that it has signed a definitive agreement to acquire certain IP assets of INVECAS, headquartered in Santa Clara, California. This acquisition will broaden Synopsys' DesignWare® Logic Library, General Purpose I/O, Embedded Memory, Interface and Analog IP portfolio. The acquisition will also add a team of experienced R&D engineers to accelerate Synopsys' physical IP roadmap across a range of process technologies to address customers' evolving design requirements in markets such as consumer, IoT and automotive. INVECAS will retain its HDMI IP and ASIC Design Solutions businesses.
The transaction, which is expected to close the first half of fiscal 2020 and is subject to customary closing conditions, is not material to Synopsys' financials. Terms are not being disclosed.
"With more functionality being integrated into a single chip, high-quality IP continues to be key for enabling designers to speed time-to-market, while reducing risk," said Joachim Kunkel, general manager of the Solutions Group at Synopsys. "With this acquisition, Synopsys is broadening our DesignWare IP portfolio to address the requirements of consumer, IoT and automotive designs and adding a strong R&D engineering team to meet the growing IP needs of our customers."
About DesignWare IP
Synopsys is a leading provider of high-quality, silicon-proven IP solutions for SoC designs. The broad DesignWare® IP portfolio includes logic libraries, embedded memories, embedded test, analog IP, wired and wireless interface IP, security IP, embedded processors and subsystems. To accelerate prototyping, software development and integration of IP into SoCs, Synopsys' IP Accelerated initiative offers IP prototyping kits, IP software development kits and IP subsystems. Synopsys' extensive investment in IP quality, comprehensive technical support and robust IP development methodology enable designers to reduce integration risk and accelerate time-to-market. For more information on DesignWare IP, visit www.synopsys.com/designware.
About Synopsys
Synopsys, Inc. (Nasdaq: SNPS) is the Silicon to Software™ partner for innovative companies developing the electronic products and software applications we rely on every day. As the world's 15th largest software company, Synopsys has a long history of being a global leader in electronic design automation (EDA) and semiconductor IP and is also growing its leadership in software security and quality solutions. Whether you're a system-on-chip (SoC) designer creating advanced semiconductors, or a software developer writing applications that require the highest security and quality, Synopsys has the solutions needed to deliver innovative, high-quality, secure products. Learn more at www.synopsys.com/.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, including statements regarding the pending acquisition of certain assets from INVECAS, the parties' ability to close and the expected closing date of the transaction, and the expected benefits of the transaction. Forward-looking statements are subject to both known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied therein. Such risks and uncertainties include, among others: the ability of the parties to consummate the acquisition in a timely manner or at all; the satisfaction of the conditions precedent to consummation of the acquisition, including the ability to secure regulatory approvals in a timely manner or at all; the effect of the announcement of the pending acquisition on Synopsys' and INVECAS' respective businesses, including possible delays in customer orders; Synopsys' ability to operate or integrate INVECAS' IP assets and R&D engineering team with its own successfully, which may include a potential loss of customers, key employees, partners or vendors; and uncertain customer demand and support obligations for integrated product and service offerings. Other risks and uncertainties that may apply are set forth in the Risk Factors section of Synopsys' most recently filed Annual Report on Form 10-K. Synopsys assumes no obligation to update any forward-looking statement contained in this press release.
Editorial Contacts:
Camille Xu
Synopsys, Inc.
wexu@synopsys.com
Simone Souza
Synopsys, Inc.
simone@synopsys.com
Investor Contact:
Lisa Ewbank
Synopsys, Inc.
synopsys-ir@synopsys.com
