UPDATE 1-Synopsys to buy Springsoft for $406 million

Fri Aug 3, 2012 5:43am EDT

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Aug 3 (Reuters) - Chip-design software maker Synopsys Inc will buy Taiwan's Springsoft Inc for $406 million, the United States-based company said on Friday, helping to strengthen its presence in Asian, European and U.S. semiconductor markets.

Synopsys will offer T$57, or $1.90 per share for all the outstanding shares of Springsoft. The deal is worth $305 million net of cash acquired, Synopsys said and will add to its 2013 non-GAAP earnings per share.

California-based Synopsys, which competes with Cadence Design Systems Inc and Mentor Graphics Corp, bought Magma late last year, to add complementary technology to its portfolio.