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Synopsys And Magma Agree To Settle All Litigation
PRNewswire- FirstCall
MOUNTAIN VIEW, Calif., and SAN JOSE, Calif.
(NASDAQ:SNPS)
MOUNTAIN VIEW, Calif., and SAN JOSE, Calif., March 30 /PRNewswire- FirstCall/ -- Synopsys, Inc. (NASDAQ: SNPS) and Magma Design Automation (NASDAQ: LAVA) today announced the companies have agreed to settle all pending litigation between them. As part of the settlement,
- Synopsys and Magma agree to release all claims in both California and
Delaware and to cross license the patents at issue in these
jurisdictions as well as any related applications;
- Both companies agree not to initiate future patent litigation against
each other for two years provided certain terms are met;
- Magma agrees to make a payment to Synopsys of $12,500,000 toward the
settlement of this dispute; and,
- All other terms of the settlement are confidential.
"For us, this case has always been about the return of Synopsys technology and the protection of our IP, and we have achieved this," said Aart de Geus, chairman and CEO of Synopsys, Inc. "Looking forward, we will focus our energy fully toward our customers' success and concentrate on growing our business."
"This unfortunate episode involved significant expense to both sides," said Rajeev Madhavan, chairman and CEO of Magma. "I am pleased we found common ground for a resolution that makes business sense for both of us."
About Synopsys
Synopsys, Inc. is a world leader in EDA software for semiconductor design. The company delivers technology-leading semiconductor design and verification platforms and IC manufacturing software products to the global electronics market, enabling the development and production of complex systems-on-chips (SoCs). Synopsys also provides intellectual property and design services to simplify the design process and accelerate time-to-market for its customers. Synopsys is headquartered in Mountain View, California and has offices in more than 60 locations throughout North America, Europe, Japan and Asia. Visit Synopsys online at http:/www.synopsys.com.
About Magma
Magma's software for integrated circuit (IC) design is recognized as embodying the best in semiconductor technology. The world's top chip companies use Magma's EDA software to design and verify complex, high-performance ICs for communications, computing, consumer electronics and networking applications, while at the same time reducing design time and costs. Magma provides software for IC implementation, analysis, physical verification, characterization and programmable logic design, and the company's integrated RTL-to-GDSII design flow offers "The Fastest Path from RTL to Silicon"™. Magma is headquartered in Santa Clara, Calif. with offices around the world. Magma's stock trades on Nasdaq under the ticker symbol LAVA. Visit Magma Design Automation on the Web at http://www.magma-da.com/.
Synopsys is a registered trademark of Synopsys, Inc. All other trademarks mentioned in this release are the intellectual property of their respective owners. Magma is a registered trademark and "The Fastest Path from RTL to Silicon" is a trademark of Magma Design Automation Inc. All other product and company names are trademarks and registered trademarks of their respective companies.
Synopsys Contacts: Magma Contact: Editorial: Yvette Huygen Milan G. Lazich Synopsys, Inc. Magma Design Automation 650-584-4547 408-565-7706 yvetteh@synopsys.com Milan.lazich@magma-da.com Investor: Lisa Ewbank Synopsys, Inc. 650-584-1901
SOURCE: Synopsys and Magma
CONTACT: Editorial, Yvette Huygen, +1-650-584-4547, yvetteh@synopsys.com,
Investor, Lisa Ewbank, +1-650-584-1901, both of Synopsys, Inc.; Milan G.
Lazich of Magma Design Automation, +1-408-565-7706, Milan.lazich@magma-da.com