Highlights
- Synopsys to sell its Optical Solutions Group to Keysight
Technologies for undisclosed terms.
- The transaction is subject to customary closing conditions,
including review by regulatory authorities, and the successful
closing of Synopsys' proposed acquisition of Ansys, which is
currently pending regulatory approvals and expected to close in the
first half of 2025.
- Synopsys Optical Solutions provides design tools to help
optical engineers deliver superior optics to market faster.
- These tools will complement and broaden Keysight's existing
design engineering software portfolio.
SUNNYVALE, Calif., Sept. 19,
2024 /PRNewswire/ -- Synopsys, Inc. (NASDAQ: SNPS)
today announced it has entered into a definitive agreement for the
sale of its Optical Solutions Group (OSG) to Keysight Technologies,
Inc. (NYSE: KEYS), a leading provider of design, emulation and
test solutions. The transaction is subject to customary closing
conditions, including review by regulatory authorities, and the
closing of Synopsys' proposed acquisition of Ansys, which is
pending regulatory approvals and expected to close in the first
half of 2025. The sale of OSG was determined to be a necessary step
towards obtaining regulatory approval of and successfully closing
Synopsys' proposed acquisition of Ansys.
"We are proud of Synopsys' Optical Solutions Group, which has
developed leading optical design tools backed by an expert team of
optical engineers and scientists," said Ravi Subramanian,
general manager of the Systems Design Group at Synopsys. "Keysight
will be an excellent future steward for this team, and customers
worldwide will benefit from continued, strong competition in the
development and delivery of optical design solutions."
OSG provides design tools and services to model all aspects of
light propagation for high-accuracy optical product simulations and
visualizations. This includes products such as: CODE V for imaging
systems design, LightTools illumination design software, LucidShape
for automotive lighting design, RSoft Photonic Device Tools, and
the recently announced ImSym – a groundbreaking virtual prototyping
platform for imaging systems. These tools provide intelligent,
easy-to-use solutions and an expert support team anchored by
optical engineers to help customers deliver superior optics to
market faster.
"Given the increasing complexity of electronics design, Keysight
is excited to expand its software simulation portfolio with the
acquisition of Synopsys' Optical Solutions Group," said Niels
Faché, vice president and general manager, Keysight Design
Engineering Software. "This acquisition will give us the
capabilities to enable high-performance system use cases beyond
electronics, including optics and photonics. We look forward to
welcoming the business' employees to Keysight when the transaction
closes and working with them to address customers' critical design
challenges requiring multi-physics simulations to predict product
performance."
This transaction is not material to Synopsys' financials, and
terms of the agreement were not disclosed. Synopsys is committed to
a seamless transition for the OSG team, customers and partners.
Until the transaction closes, OSG will operate business-as-usual,
as part of Synopsys with a focus on execution, customer service and
continued innovation.
About Synopsys
Catalyzing the era of pervasive intelligence, Synopsys, Inc.
(Nasdaq: SNPS) delivers trusted and comprehensive silicon to
systems design solutions, from electronic design automation to
silicon IP and system verification and validation. We partner
closely with semiconductor and systems customers across a wide
range of industries to maximize their R&D capability and
productivity, powering innovation today that ignites the ingenuity
of tomorrow. Learn more at www.synopsys.com.
Synopsys Contacts
Trey Campbell
Investor Relations
synopsys-ir@synopsys.com
Cara Walker
Media Relations
corp-pr@synopsys.com
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws with respect to
the proposed transaction, including, but not limited to, statements
regarding the proposed transaction, the anticipated timing of the
closing thereof and the post-closing transition of OSG, and its
customers and partners; the anticipated timing of the closing of
Synopsys' pending acquisition of Ansys (the Ansys Merger),
including the pending regulatory approval of the Ansys Merger; the
market outlook and products of OSG, and the benefits of and costs
from the transaction to Keysight; and strategies related to
Keysight's and OSG's future products, technology and services.
These forward-looking statements generally are identified by the
words "believe," "project," "expect," "anticipate," "estimate,"
"intend," "strategy," "future," "opportunity," "plan," "may,"
"should," "will," "would," "will be," "will continue," "will likely
result," and similar expressions or the negatives of these words or
other comparable terminology to convey uncertainty of future events
or outcomes. Forward-looking statements are predictions,
projections and other statements about future events that are based
on current expectations and assumptions and, as a result, are
subject to risks and uncertainties.
Many risks, uncertainties and other factors could cause actual
future events to differ materially from those expressed or implied
in forward-looking statements in this press release, including, but
not limited to: (i) the completion of the proposed transaction on
anticipated terms and timing, transition costs, future capital
expenditures, revenues, expenses, earnings, economic performance,
financial condition, losses, pricing trends, future prospects,
credit ratings, business and management strategies that may
adversely affect Synopsys' business, financial condition and
operating results, (ii) the failure to satisfy the conditions to
the consummation of the proposed transaction, including, among
other things, receipt of regulatory approval on the terms expected,
or at all, and successful closing of the Ansys Merger, or at all,
(iii) the risk that such regulatory approvals may result in the
imposition of conditions that could adversely affect, following
completion of the proposed transaction (if completed), Synopsys or
Keysight or the expected benefits of the proposed transaction, (iv)
uncertainties as to Keysight's access to available financing to
consummate the proposed transaction upon acceptable terms and on a
timely basis or at all, (v) the occurrence of any event, change or
other circumstance that could give rise to the termination of the
purchase agreement, (vi) the effect of the announcement or pendency
of the proposed transaction on Synopsys' business relationships,
competition, business, financial condition, and operating results,
(vii) risks that the proposed transaction disrupts current plans
and operations of Synopsys and the ability of Synopsys to retain
and hire key personnel, (viii) risks related to diverting the
attention of Synopsys' management team from the ongoing business
operations of Synopsys or the Ansys Merger, (ix) the outcome of any
legal proceedings that may be instituted against Synopsys related
to the proposed transaction, (x) the ability of Synopsys to
implement its plans, forecasts, expected financial performance and
other expectations with respect to its retained business after the
completion of the proposed transaction, (xi) risks associated with
third party contracts containing consent and/or other provisions
that may be triggered by the proposed transaction, (xii)
uncertainty in the macroeconomic and geopolitical environment and
its potential impact on the semiconductor and electronics
industries, (xiii) uncertainty in the growth of the semiconductor
and electronics industries, (xiv) the highly competitive industry
Synopsys operates in, (xv) actions by the U.S. or foreign
governments, such as the imposition of additional export
restrictions or tariffs, (xvi) consolidation among Synopsys'
customers and its dependence on a relatively small number of large
customers, (xvii) legislative, regulatory and economic developments
affecting Synopsys' business and (xviii) the evolving legal,
regulatory and tax regimes under which Synopsys operates.
Additional information on potential risks, uncertainties and
other factors that could affect Synopsys' results is included in
filings we make with the SEC from time to time, including in the
sections entitled "Risk Factors" in Synopsys' latest Annual Report
on Form 10-K and in its latest Quarterly Report on Form 10-Q. The
information provided herein is as of September 19, 2024. Synopsys undertakes no duty
to, and does not intend to, update any forward-looking statement,
whether as a result of new information, future events or otherwise,
unless required by law.
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SOURCE Synopsys, Inc.