Synopsys completes acquisition, forms Synplicity Business Group

By Lisa Kerner

Charlotte, N.C., May 16 - Synopsys, Inc. said it completed the acquisition of Synplicity, Inc., adding complementary products for the company's field programmable gate array (FPGA) solutions and expanding Synopsys' channel reach.

In March, Synopsys announced it had agreed to acquire Synplicity for $8 per share.

Total value of the deal was $223 million, or approximately $181 million net of cash acquired, a Synopsys news release said.

Synplicity president and chief executive officer Gary Meyers will lead the newly formed Synplicity Business Group as general manager.

Ken McElvain, Synplicity co-founder and chief technology officer, joined that group to help design Synopsys' system-level solutions, Synopsys said.

Synplicity shareholders approved the transaction on Wednesday.

Synopsys, based in Mountain View, Calif., provides electronic design automation software and related services for semiconductor design companies.

Synplicity is a Sunnyvale, Calif., supplier of FPGA and integrated circuit design and verification solutions used in communications, military/aerospace, semiconductor, consumer, computer and other electronic applications markets.

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