In tandem with its FQ4 report, Synopsys (SNPS) announces it's acquiring Magma Design (LAVA) for...

|By:, SA News Editor

In tandem with its FQ4 report, Synopsys (SNPS) announces it's acquiring Magma Design (LAVA) for $7.35/share in cash - a 28% premium to Magma's closing price. The deal will cost Synopsys $507M net of cash and debt acquired, and will bolster its position as the world's largest provider of chip design software. Magma shares remain halted, while Synopsys is nearly unchanged.