Viewlogic Completes Acquisition of Eagle Design Automation
Marlboro, MA--February 26, 1997--Viewlogic Systems Inc. (Marlboro, MA) announced it has completed the acquisition of Eagle Design Automation (Beaverton, OR).
Eagle was the first company to deliver hardware/software co-verification solutions and is a leader in the newly emerging embedded systems market segment. Eaglei technology is available for systems verification and EagleV technology for ASIC verification. An embedded system is a system which combines hardware and software in order to accomplish a specific task. Embedded systems employ micro-processors, custom designed hardware (ASICs, etc.), and custom developed software. Examples include printers, single board computers, copiers, aircraft control systems, and hand-held telephones.
Viewlogic owned approximately 20 percent of Eagle's capital stock and acquired the remaining 80 percent for approximately $6.1 million in additional cash and assumed liabilities plus certain contingent payments tied to future sales. The acquisition will be accounted for as a cash purchase, andViewlogic will charge approximately $5.5 million in one-time, non-recurring costs, primarily reflecting in-process R&D costs in the first quarter of 1997.
293 Boston Post Rd. W.
Marlboro, MA 01752
Fax: (508) 480-0882
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