Synopsys signs acquisition deal with Virage

Synopsys, a provider of software and IP for semiconductor manufacturing, has signed a definitive agreement to acquire Virage Logic, a provider of semiconductor intellectual property (IP) for circuit design.  

Virage Logic’s offering will add embedded memories with test and repair, non-volatile memories (NVMs), standard cell libraries and programmable cores for control and multimedia sub-systems to Synopsys’ product portfolio.

Under the terms of the agreement, Synopsys will pay $12 (£8) cash per Virage Logic share, resulting in a transaction value of approximately $315m, or approximately $289m net of cash acquired.

The transaction is expected to close in the fourth quarter of Synopsys’ fiscal 2010.