MOUNTAIN VIEW, Calif.,
Aug. 6, 2019 /PRNewswire/
-- Synopsys, Inc. (NASDAQ: SNPS) today announced it has signed
a definitive agreement to acquire QTronic GmbH, a leader in
simulation, test tools, and services for automotive software and
systems development headquartered in Germany. When completed, the acquisition will
broaden Synopsys' product portfolio of automotive solutions serving
the needs of automotive Tier 1 and OEM companies and add a team of
highly experienced engineers to accelerate technology development
and customer deployment.
The transaction is subject to customary closing conditions,
including certain foreign regulatory filings, and is expected to
close in Synopsys' fourth quarter of fiscal year 2019. The terms of
the deal, which is not material to Synopsys financials, are not
being disclosed.
The rapid growth of vehicle software, combined with the complex
interaction of hardware, software and physical components, creates
an enormous challenge for automobile manufacturers and their
suppliers developing future powertrain, electric vehicle, advanced
driver assistance and autonomous driving systems. To address these
challenges, automotive companies are deploying virtual development
and test environments enabling software development to start
earlier and accelerate continuous integration and test for over the
air updates. QTronic simulation and test tools will accelerate
Synopsys delivery of a comprehensive automotive virtual prototyping
solution for system and software development throughout the
automotive electronic supply chain.
"From semiconductors to OEMs, automotive companies are looking
to accelerate the development, verification and test of
increasingly complex and software rich automotive electronic
systems," said Manoj Gandhi, general
manager of the Synopsys Verification Group. "With the acquisition
of QTronic, we are strengthening our position as the leader in
virtual prototyping solutions and will continue to deliver powerful
virtual development and test solutions that enable automotive
companies to develop vehicle software earlier, faster, and
better."
About QTronic GmbH
QTronic GmbH, established 2006, is a leading provider of tools
for virtual validation of automotive software. Our flagship
products include Silver, a virtual ECU platform that transfers
development tasks from road and test rigs to Microsoft Windows PC,
and TestWeaver, an intelligent test automation solution with
powerful test case generator, requiring minimal specification.
Learn more at www.qtronic.de/.
About Synopsys
Synopsys, Inc. (Nasdaq: SNPS) is the Silicon to
Software™ partner for innovative companies developing the
electronic products and software applications we rely on every day.
As the world's 15th largest software company, Synopsys has a
long history of being a global leader in electronic design
automation (EDA) and semiconductor IP and is also growing its
leadership in software security and quality solutions. Whether
you're a system-on-chip (SoC) designer creating advanced
semiconductors, or a software developer writing applications that
require the highest security and quality, Synopsys has the
solutions needed to deliver innovative, high-quality, secure
products. Learn more at www.synopsys.com.
Safe Harbor Statement/Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934,
including statements regarding the pending acquisition of
QTronic GmbH, the parties' ability to close and the expected
closing date of the transaction, and the expected benefits of the
transaction. Forward-looking statements are subject to both known
and unknown risks and uncertainties that may cause actual results
to differ materially from those expressed or implied in the
forward-looking statements. Synopsys cautions stockholders and
prospective investors not to place undue reliance on these
statements. Such risks and uncertainties include, among others: the
ability of the parties to consummate the acquisition in a timely
manner or at all; the satisfaction of the conditions precedent to
consummation of the acquisition, including the ability to secure
regulatory approvals in a timely manner or at all; the effect of
the announcement of the pending acquisition on Synopsys' and
QTronic GmbH's respective businesses, including possible
delays in customer orders; Synopsys' ability to operate or
integrate QTronic GmbH's business and technologies with its
own successfully, which may include a potential loss of customers,
key employees, partners or vendors; and uncertain customer demand
and support obligations for integrated product and service
offerings. Other risks and uncertainties that may apply are set
forth in the Risk Factors section of Synopsys' most recently filed
Quarterly Report on Form 10-Q. Synopsys assumes no obligation to
update any forward-looking statement contained in this press
release.
Editorial Contact:
Norma
Sengstock
Synopsys, Inc.
650-584-4084
norma@synopsys.com
Investor Contact:
Lisa
Ewbank
Synopsys, Inc.
650-584-1901
synopsys-ir@synopsys.com
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SOURCE Synopsys, Inc.