Synopsys Completes Acquisition Of PikeTec GmbH

Sunnyvale, CA /PRNewswire/ - Synopsys, Inc. (NASDAQ: SNPS) today announced it has completed the acquisition of PikeTec GmbH. PikeTec is one of the leaders in solutions for the testing and verification of automotive software for control unit systems.

The emergence of software-defined vehicles (SDVs) is accelerating the rapid growth of electronics content in vehicles that manage its operations, functionality, and features primarily or entirely through software. The growing complexity of SDV systems, comprised of software, sensors, computing, and mechatronic functionality, is compounding the test and verification effort required, and rapidly becoming the biggest challenge for automobile manufacturers and their suppliers in getting a SDV to market.

"As the automotive industry evolves towards software-defined vehicles, so does the need for more efficient and effective software testing methods," said Jens Lüdemann, CEO at PikeTec. "Joining Synopsys reflects our commitment to enable automotive OEMs with the most comprehensive virtualization and testing solutions that help them scale to deliver high quality software."

PikeTec test automation tools enable intuitive and flexible testing across all phases of development and simulation environments ranging from Model-in-the-Loop (MiL) to Vehicle-in-the-Loop (ViL). As the volume and complexity of software increases, it is pushing testing of automotive software to earlier stages of product development with models, software, and processors in virtual environments. The combination of Synopsys' leading Software-in-the-Loop (SiL) and virtual hardware solutions with PikeTec's test automation tools and services offers automotive companies a strong solution to bring SDVs to market faster, safer, and more secure.

"Many automotive OEMs have adopted PikeTec's software testing and verification solutions to address the rapidly increasing software content and complexity as they move towards software-defined vehicles," said Ravi Subramanian, general manager of the Systems Design Group at Synopsys. "Combining the expertise of Synopsys and PikeTec will enable us to bring to market innovative virtualization and testing solutions that directly address our customers' challenges as they shift left in software development and verification."

The terms of the deal, which are not material to Synopsys financials, are not being disclosed.

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 an S&P 500 company, Synopsys has a long history of being a global leader in electronic design automation (EDA) and semiconductor IP and offers the industry's broadest portfolio of application security testing tools and services. Whether you're a system-on-chip (SoC) designer creating advanced semiconductors, or a software developer writing more secure, high-quality code, Synopsys has the solutions needed to deliver innovative products. Learn more at www.synopsys.com.

Forward-Looking Statements
This news release contains forward-looking statements, including, but not limited to, statements regarding the expected benefits of the transaction. 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. These risks and uncertainties include, among others: Synopsys' ability to operate or integrate PikeTec's assets and employees with its own successfully, which may include a potential loss of customers, key employees, partners or vendors; and uncertain customer demand for PikeTec's solutions. 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 assumes no obligation to update any forward-looking statement contained in this news release.