Synopsys to acquire ProDesign's CHIPit business

Venice, Florida — Synopsys, Inc. announced it has signed a definitive agreement to acquire the CHIPit business unit of ProDesign, a leading provider of high-speed ASIC and System-on-Chip (SoC) verification systems. The acquisition of complementary talent, technology and products expands Synopsys' total addressable market by addressing the needs of customers who want to deploy more automated prototypes with additional co-verification features.

Gary Meyers, vice president and general manager, Synplicity Business Group, Synopsys stated: "By combining Synopsys' and CHIPit's strong teams and technologies, we can accelerate our ability to address every phase in the verification cycle, in particular for system validation and embedded software development."

ProDesign is a privately held company headquartered in Bruckmuhl, Germany. Its CHIPit line of ASIC prototyping tools provides verification and validation through the SoC and ASIC project life cycles. The transaction is subject to customary closing conditions and is expected to close within Synopsys' first quarter of fiscal year 2009. The terms of the deal are not being disclosed.