Synopsys, a U.S. firm that makes software program for designing semiconductors, mentioned it has accomplished its acquisition of intently held German software program firm PikeTec, strengthening its autonomous driving operations.
PikeTec is valued within the transaction at greater than $200 million, Bloomberg Information reported earlier than Synopsys introduced the deal Wednesday.
With out disclosing the phrases, Synopsys mentioned in an announcement that they have been “not materials” to its financials.
PikeTec, owned by the German non-public fairness agency ECM Fairness Capital Administration, makes testing and verification of automotive software program for management unit techniques.
“Because the automotive business evolves in direction of software-defined automobiles, so does the necessity for extra environment friendly and efficient software program testing strategies,” PikeTec Chief Government Officer Jens Lüdemann mentioned within the assertion.
Shares of Mountain View, California-based Synopsys rose 2.7 % to $448.24 in New York buying and selling Wednesday, giving the corporate a market worth of $68 billion.
Synopsys is likely one of the two main digital design automation corporations serving the semiconductor market and competes with Cadence Design Programs.
A takeover of PikeTec matches the corporate’s technique of doing a gentle stream of tuck-in acquisitions value a couple of hundred million {dollars} every over the previous 20 years.
PikeTec makes embedded testing software program instruments. It was based in 2007 in Berlin by executives who knew one another from the analysis division of Daimler, in accordance with its web site.
ECM Fairness Capital Administration, a personal fairness agency centered on small and mid-cap corporations, was one of many first buyers in wind turbine maker Vestas and earlier this yr bought dermatology observe chain Dermatologikum Group to Bergman Clinics.
“For the reason that starting of our partnership in 2019, we now have supported administration in accelerating PikeTec’s profitable progress path and in driving the internationalization of the corporate,” ECM Managing Accomplice Florian Kaehler mentioned in an emailed assertion on Thursday.