O'Melveny Represents VaST Systems in Acquisition By Sysnopsys, Inc.February 04, 2010
FOR IMMEDIATE RELEASE
O'Melveny & Myers LLP
O'Melveny & Myers LLP
SILICON VALLEY, CA - FEBRUARY 3, 2010 -- O’Melveny & Myers represented VaST Systems Technology Corporation in its acquisition by Synopsys, Inc, a world leader in electronic design automation (EDA). VaST is an electronics virtualization company that develops virtual system prototypes for use in design and supply chains in automotive and consumer applications. Virtual prototypes represent one of the fastest-growing opportunities in the system-level design and verification market segment. The acquisition will expand Synopsys’ virtual prototyping solutions to include leaders in automotive, consumer, and wireless markets.
The O’Melveny team was led by Silicon Valley partners Paul Sieben and Warren Lazarow and associate Sofia Lou.
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The following press release was recently distributed by Synopsys, Inc.
Synopsys Acquires VaST Systems Technology Corporation
Acquisition extends Synopsys' virtual prototyping solutions into automotive and consumer applications
MOUNTAIN VIEW, Calif.
Feb 02, 2010
MOUNTAIN VIEW, Calif., Feb. 2 /PRNewswire-FirstCall/ -- Synopsys, Inc. (NASDAQ: SNPS), a world leader in software and IP for semiconductor design, verification and manufacturing, today announced it has acquired VaST Systems Technology Corporation to extend its virtual prototyping solutions into the automotive and consumer application space. The acquisition adds a comprehensive set of processor sub-system models frequently found in automotive and consumer applications to Synopsys' virtual prototyping portfolio. Processor sub-system models allow developers to accelerate the virtualization of electronic systems and to start software development nine to 12 months prior to the availability of silicon.
"In order to meet the stringent development requirements associated with today's growing electronics and software content in automotive and consumer products, developers are virtualizing their electronic sub-systems to start software development earlier, improve their productivity and deliver better-tested, higher quality products," said Joachim Kunkel, senior vice president and general manager of the solutions group at Synopsys. "By adding VaST's complementary virtual prototyping solutions to Synopsys' existing virtual and rapid prototyping product portfolio, we can deliver a robust system prototyping solution to automotive and consumer application developers."
Virtualization is a key technology to improve software development productivity and system verification. Virtual prototypes enable pre-silicon software development and complement traditional hardware/software verification approaches. They represent one of the fastest-growing opportunities in the system-level design and verification market segment.
The terms of the deal, which closed February 1, are not being disclosed. Synopsys does not expect the transaction to have a material impact on 2010 revenue or earnings per share (EPS).
Synopsys, Inc. (NASDAQ: SNPS) is a world leader in electronic design automation (EDA), supplying the global electronics market with the software, intellectual property (IP) and services used in semiconductor design, verification and manufacturing. Synopsys' comprehensive, integrated portfolio of implementation, verification, IP, manufacturing and field-programmable gate array (FPGA) solutions helps address the key challenges designers and manufacturers face today, such as power and yield management, software-to-silicon verification and time-to-results. These technology-leading solutions help give Synopsys customers a competitive edge in bringing the best products to market quickly while reducing costs and schedule risk. Synopsys is headquartered in Mountain View, California, and has more than 65 offices located throughout North America, Europe, Japan, Asia and India. Visit Synopsys online at http://www.synopsys.com/.
Safe Harbor Statement/Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. federal securities laws, including statements regarding the expected benefits of the proposed transaction to Synopsys and its customers. Forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. These risks and uncertainties include, among others, Synopsys' ability to integrate the businesses and technologies and to manage the impact on financial results following the acquisition as well as customer demand for the new technologies and product offerings. Additional information concerning other risk factors is contained 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.
Synopsys is a registered trademark of Synopsys, Inc. All other trademarks mentioned in this release are the intellectual property of their respective owners.