June 23, 2003 – Cupertino, CA – Magma Design Automation Inc., a provider of electronic design automation software, will acquire Aplus Design Technologies, Inc., Los Angeles, CA. Terms of the stock-based deal were not disclosed.

With this move, Magma gains Aplus’ expertise in embedded programmable structures and custom cell arrays in ASICs, as well as an R&D center in China.

The acquisition, said to be valued at less than 10% of Magma’s total asset value, is subject to Aplus shareholders’ approval, and is scheduled to be closed by September 30, 2003.