MOUNTAIN VIEW, Calif. -- Synopsys Inc. here today said it has received a request from the U.S. Federal Trade Commission for additional information on its proposed acquisition of Avanti Corp.
Synopsys and Avanti, in nearby Fremont, said they were working closely with the FTC staff in an attempt to clear an antitrust review period for the planned merger of the two companies, which is expected to be completed between March and June.
Last month, Synopsys surprised the industry by announcing it would buy the Avanti for stock in what would be the largest acquisition in electronic design automation history (see Dec. 3 story). The purchase agreement came after a turbulent year at Avanti, which last summer was ordered by a criminal court to pay $195 million in restitution to Cadence Design Systems Inc. in connection with the company's conviction on software theft charges. Avanti is also still being sued by Cadence in connection with charges of theft.