Synopsys completes Numerical acquisition

Synopsys completes Numerical acquisition
MOUNTAIN VIEW, Calif. -- EDA giant Synopsys Inc. has completed its acquisition of Numerical Technologies Inc., a provider of software for lithography-enabling applications.

The deal, which was announced in January, was worth $250 million (see Jan 13 story ). The combination of Numerical and Synopsys will accelerate the shift towards design-for-manufacturing in chip production.

"Design for manufacturing has gained increased attention as the complexity and cost of lithographic masks have skyrocketed," said Aart de Geus, chairman and CEO of Synopsys, in a statement. "By bringing Numerical's products and well-respected technologists to Synopsys, we will be able to better address manufacturing issues earlier during the design phase and, in the process, reduce cost and risk for our customers," he said.

"Numerical's direct adjacency to our traditional business will not only allow us to grow in the rapidly emerging DFM market; it also strengthens our existing physical products and increases the value of our recently announced Galaxy Design Platform," he added.

Through a tender offer by its wholly owned subsidiary, Neon Acquisition Corp., Synopsys had previously acquired approximately 90.71% of the outstanding shares of Numerical common stock for a purchase price of $7.00 per share in cash, without interest.

As the final step of the acquisition, Synopsys caused Neon Acquisition to merge with and into Numerical effective March 1, 2003. In the merger, each Numerical share not purchased in the tender offer, other than shares for which statutory appraisal rights are properly exercised, was converted into the right to receive the same $7.00 per share in cash, without interest, as received by Numerical stockholders in the tender offer. As a result, Numerical is now a wholly owned subsidiary of Synopsys.