Synplicity Announces U.S. and German Governments Have Granted Termination of Antitrust Waiting Periods
25 April 2008 - 2:00PM
Business Wire
Synplicity, Inc. (Nasdaq:SYNP) today announced that the U.S.
Federal Trade Commission and the U.S. Department of Justice have
allowed the expiration of the waiting period for antitrust review
under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in
connection with Synopsys� pending acquisition of Synplicity.
Expiration of the waiting period ends the Federal Trade
Commission�s and Department of Justice�s antitrust review of the
transaction. On April 14, 2008, the German Federal Cartel Office
granted antitrust clearance of the transaction under the Act
against Restraints of Trade. As previously announced on March�20,
2008, Synplicity and Synopsys announced the signing of a merger
agreement under which Synopsys will pay $8.00 per share in cash,
without interest, for each outstanding share of Synplicity common
stock. Expiration of the Hart-Scott-Rodino and German waiting
periods satisfies one of the conditions to completion of the
transaction. The completion of the transaction is still subject to
Synplicity shareholder approval and other customary closing
conditions. About Synplicity Synplicity�,�Inc. (Nasdaq: SYNP) is a
leading supplier of innovative software and hardware solutions for
the design and verification of semiconductors that serve a wide
range of communications, military/aerospace, consumer,
semiconductor, computer, and other electronic systems markets.
Synplicity�s FPGA implementation tools provide outstanding
performance, cost and time-to-market benefits by simplifying,
improving and automating design planning, logic synthesis and
physical synthesis for FPGA and DSP designs. The combination of the
company�s ASIC verification and FPGA-based prototyping software
tools and HAPS ASIC prototyping hardware, provide designers with a
comprehensive at-speed ASIC / ASSP verification flow known as the
Confirma� platform which dramatically accelerates functional
verification of FPGAs and ASICs. Synplicity is the number one
supplier of FPGA synthesis tools and its physical synthesis and
ASIC verification technology are the recipients of several
prestigious industry awards. Synplicity products support
industry-standard design languages (VHDL and Verilog) and run on
popular platforms. The company operates in over 20 facilities
worldwide and is headquartered in Sunnyvale, California. For more
information visit http://www.synplicity.com. Forward-Looking
Statements This press release contains forward-looking statements
that involve risks and uncertainties concerning Synopsys� proposed
acquisition of Synplicity. Actual events or results may differ
materially from those described in this document due to a number of
risks and uncertainties. The potential risks and uncertainties
include, among others, the possibility that the transaction will
not close, and that the closing may be delayed. Synplicity
undertakes no obligation to update these forward-looking statements
to reflect events or circumstances after the date of this document.
Additional Information On April�17, 2008, Synplicity filed a
definitive proxy statement filed with the Securities and Exchange
Commission (the �SEC�) regarding the proposed acquisition of
Synplicity by Synopsys. Investors and security holders of
Synplicity are urged to read the definitive proxy statement and any
other relevant materials filed by Synopsys or Synplicity with the
SEC because they contain, or will contain, important information
about Synopsys, Synplicity and the proposed acquisition. The
definitive proxy statement has been mailed to the security holders
of Synplicity. The definitive proxy statement and other relevant
materials (when they become available), and any other documents
filed by Synopsys or Synplicity with the SEC, may be obtained free
of charge at the SEC�s web site at www.sec.gov. In addition,
investors and security holders may obtain free copies of the
documents filed with the SEC by Synopsys by contacting Synopsys
Investor Relations, 700 East Middlefield Road, Mountain View,
California, 94043, (650)�584-5000. Investors and security holders
may obtain free copies of the documents filed with the SEC by
Synplicity by contacting Synplicity Investor Relations, 600 W.
California Avenue, Sunnyvale, California, 94086, (408)�215-6000.
Synplicity and its officers and directors may be deemed to be
participants in the solicitation of proxies from Synplicity�s
shareholders with respect to the merger. A description of any
interests that these officers and directors have in the merger are
set forth in the definitive proxy statement filed with the SEC.
Additional information concerning Synplicity�s directors and
executive officers is set forth in Synplicity�s Amendment No.1 to
Annual Report on Form�10-K, which was filed with the SEC on
April�4, 2008. These documents are available free of charge at the
SEC�s web site at www.sec.gov or by going to Synplicity�s Investor
Relations page on its corporate website at www.synplicity.com.
Synplicity is a registered trademark of Synplicity,�Inc. All other
brands or products are the trademarks or registered trademarks of
their owners.
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