MARLBORO, Mass.--Once their planned merger is completed, Viewlogic Systems Inc. and Summit Design Inc. intend to call the new company "Innoveda Inc."
"We coined `Innoveda' to differentiate our new company and identify its mission to our industry and customers," said Viewlogic chief executive officer William J. (Will) Herman, during today's unveiling of the new company name. "It denotes a corporate focus on developing and marketing innovative EDA tools and services that will help engineers visualize, design and build complex electronic systems."
Innoveda be headquartered in Marlboro, Mass., where Viewlogic is based. Viewlogic CEO Herman will become president, CEO and chairman of the merged company, which will market software tools and services to designers of electronic products used by computers, communications, aerospace/defence systems, automotive electronics and consumer products.
The companies today said a merger registration statement has been declared effective by the Securities and Exchange Commission. Final approval of the merger is subject to a vote by Summit and Viewlogic shareholders, which are slated to meet March 20.