6/13/2003 - Magma Design Automation Inc. (Nasdaq: LAVA), a provider of chip design solutions, announced it has signed a definitive agreement to acquire Aplus Design Technologies Inc., which provides logical and physical synthesis and prototyping software solutions for programmable logic devices.
The companies expect to complete the acquisition early in the quarter ending September 30, 2003, the second quarter of Magma's 2004 fiscal year.
"We have been very strategic in evaluating potential acquisition partners, and Aplus is a good fit with Magma," Madhavan said. "The Aplus technology will enable the Magma flow to address embedded programmable structures and custom cell arrays in ASICs (application-specific integrated circuits), and we'll continue to support existing Aplus products and customers as well."
"We are excited to join a great company, one that is increasingly recognized as the emerging technology leader in EDA," Cong said. "The advantage of Magma's fully integrated IC design flow is becoming more embraced in the market, and I am confident the Aplus technology will enhance and expand that flow."
Magma's acquisition of Aplus is subject to certain conditions, including compliance with applicable regulatory requirements and approval by Aplus' stockholders.
About Magma Design Automation
Magma software is used to design fast, multimillion-gate integrated circuits, providing "The Fastest Path from RTL to Silicon"TM, enabling chip designers to reduce the time required to produce complex ICs. Magma's products for prototyping, synthesis, and place & route provide a single executable for RTL-to-GDSII chip design. The company's Blast CreateTM, Blast Fusion®, Blast Fusion APXTM, Blast PlanTM and Blast Noise® products utilize Magma's patented FixedTiming® methodology and single data model architecture to reduce the timing-closure iterations often required between the logic and physical processes in conventional IC design flows.
Magma maintains headquarters in Cupertino, Calif., as well as facilities in Los Angeles, Orange County and San Diego, Calif.; Boston, Mass.; Durham, N.C.; Austin and Dallas, Texas; Newcastle, Wash.; and in Canada, China, France, Germany, India, Israel, Japan, Korea, the Netherlands, Taiwan and the United Kingdom. The company's stock trades on Nasdaq under the ticker symbol LAVA. Visit Magma Design Automation on the Web at www.magma-da.com.
Blast Fusion, Blast Noise, FixedTiming and Magma are registered trademarks, and Blast Create, Blast Fusion APX, Blast Plan and "The Fastest Path from RTL to Silicon" are trademarks, of Magma Design Automation.
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