Synopsys buys inSilicon for $ 64 m

BANGALORE: A definitive agreement has been signed for Synopsys to acquire all

outstanding shares of inSilicon for approximately $ 64 million. The transaction

will be effected by means of a cash tender offer for all of the outstanding

shares of inSilicon. The offer is subject to certain conditions, including the

tender of a majority of the outstanding shares of inSilicon, receipt of

regulatory approvals, and other customary conditions. This was informed by a

media release by the company.

The acquisition will be effected by means of a cash tender offer for all of

the outstanding shares of inSilicon at a cash purchase price of $ 4.05 per

share, followed by a back-end merger in order to purchase any untendered shares.

Synopsys will also assume certain inSilicon stock options in the transaction.

Phoenix Technologies, which owns approximately 69 percent outstanding shares of

inSilicon, has agreed to tender those shares to Synopsys. A special committee of

independent directors of inSilicon has reviewed the transaction on behalf of the

inSilicon stockholders unaffiliated with Phoenix Technologies.

"Together with EDA tools, IP provides the essential infrastructure upon

which our customers create differentiated products," said Synopsys,

Chairman and CEO, Aart de Geus. "The acquisition of inSilicon will provide

our customers with access to a strong portfolio of open format, digital and

mixed signal connectivity IP designed by one of the industry’s leading analog

and digital design teams."

"Joining Synopsys will allow us to expand the reach of our IP,"

said, inSilicon President and CEO, Barry Hoberman. "Synopsys’ global

presence, sales and application resources, and ability to invest, help to assure

designers worldwide that they will have access to the standards-based

connectivity IP they need for their next-generation integrated circuits."

"Designers using our DesignWare IP Library have been asking for access

to more and more complex IP, available as soon as possible in the evolution of

each new standard," said Synopsys IP and Systems business unit, senior vice

president and general manager, John Chilton. "inSilicon was first to market

with high-quality IP for leading standards such as USB, PCI, Ethernet, and 1394.

Adding the inSilicon team will allow us to offer our customers the widest

possible range of IP solutions at the highest level of quality."