Sept. 20, 2002 – Mountain View, CA – Synopsys Inc., a provider of complex IC design, has closed its acquisition of inSilicon Corp.
The closing followed the expiration of the tender offer by Synopsys’ wholly owned subsidiary, Ferrite Acquisition Corp., to purchase all of the outstanding shares of common stock, par value $0.001/share, of inSilicon for a purchase price of $4.05/share.
“This acquisition enables us to extend our portfolio of IP solutions,” said John Chilton, senior VP and GM of Synopsys’ IP and systems business unit. “This new team enables us to more quickly deliver cores for emerging connectivity standards such as USB On-the-Go.”
As the final step to the acquisition, Synopsys caused Ferrite Acquisition Corp. to merge with and into inSilicon on September 20. In the merger, each share of inSilicon common stock not validly tendered and purchased in the offer, other than shares for which statutory appraisal rights are properly exercised, was converted into the right to receive $4.05/share in cash, without interest. As a result, inSilicon is now a wholly owned subsidiary of Synopsys.