Thursday, May 7, 2009

Mentor Graphics to Acquire LogicVision for $13M

Wilsonville, Oregon-based electronics hardware design applications publisher Mentor Graphics announced today that it has agreed to acquire LogicVision Inc. for some $13 million. Headquartered in San Jose, Calif., LogicVision provides built-in-self-test (BIST) technologies used in silicon manufacturing. Mentor Graphics said LogicVision stockholders will receive about a fifth of a share of Mentor Graphics common stock for each share of LogicVision common stock. Mentor Graphics noted that both companies' stocks are traded on the NASDAQ market, and both companies’ boards have approved the merger. The transaction, which Mentor Graphics said should close during the third quarter, must also gain approval from LogicVision's stockholders and satisfy customary closing conditions.