Software design and verification company Synopsys acquires Magma Design Automation, maker of chip design software

MOUNTAIN VIEW, Calif., 27 Feb. 2012. Synopsys Inc. (Nasdaq:SNPS), a developer of software and IP used in the design, verification, and manufacture of electronic components and systems, has acquired Magma Design Automation Inc. (Nasdaq:LAVA), a provider of chip design software in San Jose, Calif., for roughly $523 million to more rapidly meet the needs of leading-edge semiconductor designers for more sophisticated design tools.

Magma's founder, Chairman, and CEO Rajeev Madhavan will not join Synopsys.  


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