Mentor Graphics to acquire Innoveda

Mentor Graphics to acquire Innoveda
Wilsonville, OR, May 17, 2002 — Mentor Graphics Corp. (Nasdaq:MENT), the supplier of electronic hardware and software design solutions, today announced that on May 16, 2002, it received early termination of the waiting period required under the Hart-Scott-Rodino Act in connection with the previously announced proposed acquisition of Innoveda, Inc. (Nasdaq:INOV).

Innoveda, headquartered in Marlboro, Massachusetts, is a supplier of electronic design automation technology, software and services for businesses in the consumer electronics, computer, telecommunications, automotive and aerospace industries.

Pursuant to an all-cash tender offer, Mentor Graphics is offering to acquire Innoveda for $3.95 in cash per share of Innoveda common stock. Mentor Graphics’ offer is scheduled to expire at midnight, New York City time on Tuesday, May 28, 2002, unless extended.

As of the close of business on April 16, 2002, 21,318,914 shares of Innoveda common stock had been validly tendered into the offer, which represents approximately 43.5% of Innoveda’s outstanding common stock on a fully diluted basis (based upon 49,022,122 shares outstanding as of April 23, 2002).


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