Synopsys to buy Springsoft for $406 million

(Reuters) - Chip-design software maker Synopsys Inc (SNPS.O) will buy Taiwan's Springsoft Inc 2473.TW 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 (CDNS.O) and Mentor Graphics Corp (MENT.O), bought Magma late last year, to add complementary technology to its portfolio.

(Reporting by Adithya Venkatesan in Bangalore; Editing by Helen Massy-Beresford)