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Synopsys completed its acquisition of CoWare on March 23, 2010, after announcing a definitive agreement on February 8. The companies did not disclose the purchase price. Synopsys said the deal would expand its system-level design and verification offerings for wireless, consumer and automotive products.
When did Synopsys acquire CoWare?
| Date | Milestone |
|---|---|
| February 8, 2010 | Synopsys announced it had signed a definitive agreement to acquire CoWare. The proposed transaction was subject to customary closing conditions, including Hart-Scott-Rodino review, and Synopsys expected it to close in its fiscal second quarter of 2010. Synopsys announcement. |
| March 23, 2010 | Synopsys announced that it had completed the acquisition of CoWare, Inc. Synopsys completion announcement. |
Why did Synopsys buy CoWare?
Synopsys presented the acquisition as an expansion of its system-level design and verification portfolio. It said CoWare’s complementary technology and expertise would support standards-based solutions for engineers working on processor- and software-intensive products, including designs for wireless, consumer and automotive applications. In the announcement, Synopsys executive Joachim Kunkel said the company would be able to develop and bring those solutions to market so engineers could design such products more quickly. Synopsys announcement.
What did CoWare make?
CoWare supplied software and services for electronic systems design. Synopsys described itself as a provider of software and intellectual property for semiconductor design, verification and manufacturing; its stated rationale was that CoWare would complement and broaden its system-level design and verification offerings. Synopsys completion announcement.
How much did Synopsys pay for CoWare?
The financial terms were not disclosed in either Synopsys’ agreement announcement or its completion announcement. No purchase price is established by those releases, so a deal value should not be inferred from them.
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What happened to CoWare after the acquisition?
The documented outcome is that Synopsys completed the purchase and described it as an addition to its system-level design and verification portfolio. The official releases cited here do not provide a standalone post-acquisition performance figure, such as revenue, market share or employee count.
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