Synopsys Buys Virage Logic

Mountain View-based Synopsys announced today that it is acquiring Virage Logic, in a deal worth $315M in cash, or $12.00 per share in cash per Virage Logic share. After accounting for cash on hand at Virage, the deal is worth approximately $289M. Virage is a provider of intellectual property for the integrated circuit market. Synopsys said the buy will strengthen its portfolio for systems-on-a-chip development.