Synopsys Completes Acquisition of Magma Design Automation

The value of the transaction is approximately $523 million net of cash acquired, or $7.35 per Magma share in cash, which Synopsys will fund using a combination of cash and debt. Synopsys anticipates it to be modestly accretive to non-GAAP earnings per share in its fiscal 2012.

Along with Magma's senior management team, Magma President and COO Roy Jewell will work with Synopsys to ensure a smooth integration of the companies for customers and employees. Magma's founder, Chairman and CEO Rajeev Madhavan will not join Synopsys but will be available for advice as we transition the company.

Earnings Results Webcast
Synopsys will report results for the first quarter fiscal 2012 today after market close. Synopsys will hold a conference call for analysts and investors to review the results and to discuss the acquisition today at 2 p.m. PT (5 p.m. ET). A recording of the call will be available by calling +1 800 475 6701 (+1-320-365-3844 for international callers), access code 236854, beginning at 4 p.m. PT today. A webcast replay will also be available on the website from approximately 5:30 p.m. PT today through the time Synopsys announces its results for the second quarter fiscal 2012 in May 2012. Synopsys will post copies of the prepared remarks of Aart de Geus, chairman and chief executive officer, and Brian Beattie, chief financial officer, on its website following the call.