Synopsys acquires Virage Logic Corporation, a independent provider of semiconductor intellectual property (IP) for the design of complex integrated circuits. Under the terms of the agreement, Synopsys will pay $12.00 cash per Virage Logic share, resulting in a transaction value of approximately $315 million, or approximately $289 million net of cash acquired.

Virage Logic President and CEO Alex Shubat will join Synopsys. After the closing, Virage Logic will become part of Synopsys. The transaction is expected to close in the fourth quarter of Synopsys' fiscal 2010.

For fiscal 2009, total revenues of Virage were $47.4 million, the net loss was $34.1 million. Synopsys ended 2009 with a turnover of $1.360 billion and a net profit of $167.7 million.