SNPS » Topics » Note 15. Subsequent Events

This excerpt taken from the SNPS 10-Q filed Jun 10, 2008.

Note 15.   Subsequent Events


On May 15, 2008, the Company completed its acquisition of Synplicity, Inc., a Sunnyvale-based company providing field programmable gate array (FPGA) and IC design and verification solutions to communications, military/aerospace, semiconductor, consumer, computer and other electronic applications companies.  In addition, the Company will gain a differentiated hardware-based rapid prototyping portfolio that complements its virtual prototyping business.  Under the terms of the agreement, the Company paid $8.00 per share for all outstanding shares of Synplicity common stock in an all cash transaction for $223.3 million and assumed approximately 1.6 million outstanding employee options and restricted stock units.






The following discussion of our financial condition and results of operations should be read together with our unaudited condensed consolidated financial statements and the related notes thereto contained in Part I, Item 1 of this report. This discussion contains forward-looking statements. Our actual results could differ materially from those projected in the forward-looking statements as a result of a number of factors, risks and uncertainties, including the risk factors set forth in Part II, Item 1A below.


This excerpt taken from the SNPS 10-Q filed Mar 9, 2007.

Note 15.   Subsequent Events


Subsequently, on February 13, 2007, the Company sold to a third party a parcel of land in San Jose, California for $26.3 million, net of related fees and expects to record a gain of approximately $4 million. As of January 31, 2007, the land was reported as an asset-held-for-sale within prepaid expense and other assets on the balance sheet.






The following overview of our financial condition and results of operations is qualified in its entirety by the more complete discussion contained in this Item 2. The risk factors set forth in Part I, Item 1A of our Annual Report on Form 10-K for the year ended October 31, 2006, as filed with the SEC on January 11, 2007, have not substantively changed, except as set forth in Part II, Item 1A below.


This excerpt taken from the SNPS 10-K filed Jan 12, 2006.
Note 14.   Subsequent Events

On December 7, 2005, the Company closed its acquisition of HPL Technologies, Inc. (HPL) in an all-cash transaction for a purchase price of $0.30 per share. HPL is a leader in yield management software and test chip solutions and the acquisition is a part of the Company’s strategy to enhance its DFM offerings.


On December 22, 2005, the Company announced that Brian M. Beattie will be appointed as Chief Financial Officer (Principal Financial Officer) of the Company, effective January 16, 2006.

This excerpt taken from the SNPS 10-K filed Jan 12, 2005.

Note 13. Subsequent Events

        On November 1, 2004, the Company completed its acquisition of the assets of ISE Integrated Systems Engineering AG (ISE) for cash consideration of $95 million, net of cash acquired from ISE. The acquisition will enable the Company to expand its offerings of Technology CAD (TCAD) software products and services, which can reduce the number of test chips required to optimize and characterize a new semiconductor process, thereby shortening the time and cost to ramp up yield in leading-edge fabs. The Company expects to allocate the purchase price primarily to in-process research and development, core/developed technology, and/or goodwill.

        On November 30, 2004, the Company signed a merger agreement to acquire Nassda Corporation (Nassda), a provider of circuit simulation products, in an all-cash transaction for a purchase price of $7.00 per share. The aggregate consideration is approximately $192 million. The transaction is subject to customary regulatory approvals and other closing conditions. In addition, the approval of Nassda's stockholders holding a majority of the outstanding shares of Nassda common stock and approval of the holders of a majority of the outstanding shares of Nassda common stock casting votes affirmatively or negatively on the merger agreement (excluding Nassda's officers and directors, the individual defendants and the related parties of the individual defendants) is required for Nassda and Synopsys to


complete the proposed merger. Certain directors, officers and employees of Nassda who own in the aggregate approximately 60% of Nassda's outstanding common shares have agreed to vote in favor of the adoption and approval of the merger agreement. Upon the closing of the acquisition, the Nassda officers, directors and employees who are defendants in the litigation between the Company and Nassda will make settlement payments to the Company in the aggregate amount of approximately $61 million.

        After the end of fiscal 2004, and in connection with the Company's December 1, 2004 announcement that the Company signed agreements to acquire Nassda Corporation and to settle all outstanding litigation between the two companies, a class action complaint entitled Robert Israel v. Nassda Corporation, et. al., No. 4705695, was filed in the Court of Chancery of the State of Delaware naming Nassda, its directors and the Company as defendants and their affiliates. The complaint purports to be a class action lawsuit brought on behalf of shareholders of Nassda, other than the defendant directors, who allegedly would be injured or threatened with injury if the proposed acquisition of Nassda by the Company proceeded forward on the terms announced. The purported class action seeks to enjoin the transaction, or alternatively, damages. The complaint does not specify the amount of damages sought. The Company believes the claims in this purported class action are without merit, and intends to defend against them vigorously.

        On December 1, 2004, the Company's Board of Directors approved the replenishment of the Company's stock repurchase plan authorizing $500 million for future repurchases of the Company's common stock.


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