MOUNTAIN VIEW, Calif., July 3, 2018 /PRNewswire/
-- Synopsys, Inc. (NASDAQ: SNPS) and Siemens PLM Software today announced that they have agreed to collaborate on a
wide range of electronic design automation (EDA) product interoperability projects for the benefit of their mutual customers. The
collaboration spans a number of EDA domains from design to verification.
"With the increasing complexity in electronics driven by AI, automotive, industrial and other high-impact markets,
semiconductor and systems companies are grappling with design challenges from the roots of silicon all the way up to the
application software," said Aart de Geus, chairman and co-CEO of Synopsys. "We look forward to
working with Siemens to provide increasingly powerful EDA and related solutions to our mutual customers."
In addition, Synopsys and Siemens have settled all outstanding patent litigation between Synopsys and Mentor Graphics. The
settlement includes mutual seven-year patent cross-licenses between Synopsys and Siemens, and between Synopsys and Mentor
Graphics, as well as a Synopsys payment to Siemens of $65 million.
Financial Impact
There is no change to the non-GAAP financial targets provided by Synopsys on May 23, 2018.
Synopsys expects the agreements to result in a one-time GAAP-only expense of approximately $25-50
million and a one-time cash flow impact of $65 million in the fiscal third quarter, neither of
which is reflected in the respective financial targets provided on May 23, 2018.
About Synopsys
Synopsys, Inc. (Nasdaq: SNPS) is the Silicon to Software™ partner for innovative companies developing the electronic products
and software applications we rely on every day. As the world's 15th largest software company, Synopsys has a long history of
being a global leader in electronic design automation (EDA) and semiconductor IP and is also growing its leadership in software
security and quality solutions. Whether you're a system-on-chip (SoC) designer creating advanced semiconductors, or a software
developer writing applications that require the highest security and quality, Synopsys has the solutions needed to deliver
innovative, high-quality, secure products. Learn more at www.synopsys.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of
1934, including statements regarding the collaboration between the parties, the expected benefits of such collaboration, and the
expected impact that the various agreements between the parties may have on Synopsys' financial results. Forward-looking
statements are subject to both known and unknown risks and uncertainties that may cause actual results to differ materially from
those expressed or implied in the forward-looking statements. Such risks and uncertainties include, among others, that the final
accounting treatment of the agreements between the parties differs materially from current expectations of such treatment and the
companies' continued collaboration with each other. Other risks and uncertainties that may apply are set forth in the Risk
Factors section of Synopsys' most recently filed Quarterly Report on Form 10-Q. Synopsys does not assume any obligation to update
any forward-looking statement contained in this press release.
Editorial Contact:
Simone Souza
Synopsys, Inc.
650-584-6454
simone@synopsys.com
Investor Contact:
Lisa Ewbank
Synopsys, Inc.
650-584-1901
synopsys-ir@synopsys.com
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SOURCE Synopsys, Inc.