Avant! and FrontLine complete merger; FrontLine's Verilog simulation software tools added to Avant!'s growing ICDA solutions offering.SUNNYVALE, Calif.--(BUSINESS WIRE)--Jan. 7, 1997--Avant! Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AVNT), a leading provider of software tools and services for deep-submicron integrated circuit integrated circuit (IC), electronic circuit built on a semiconductor substrate, usually one of single-crystal silicon. The circuit, often called a chip, is packaged in a hermetically sealed case or a nonhermetic plastic capsule, with leads extending from it for design automation (ICDA ICDA abbr. International Classification of Diseases, Adapted for Use in the United States ) technology, today announced the completion of its merger with FrontLine Design Automation Inc., a privately held supplier of Verilog simulation solutions. Gerald C. Hsu, chairman, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Avant! Corp., said, "FrontLine's core products in Verilog simulation propel Avant! into the front end design world and add a new dimension of capabilities to its ICDA flow. With a complete design flow of circuit simulation, floorplanning, physical design, parasitic extraction, power and noise analysis, physical verification Physical verification A procedure auditors use to ensure that inventory recorded in the book is correct by actually checking out the physical inventory. and now Verilog simulation, Avant! continues to provide its customers with the methodologies and innovative, advanced tools needed to produce an IC chip. "More importantly, Verilog technology is vital for Avant! to enhance its ability to provide intellectual property (IP) to its customers. As always, Avant!'s focus remains on its customers, technology and people to offer innovative solutions for deep-submicron IC design." "Both FrontLine and Avant! are committed to providing our customers with real solutions to address today's deep-submicron design challenges. FrontLine offers both gate-level event-driven and cycle-based simulators to address these challenges head on and ensure complete sign-off at the logic design level. Avant!'s products provide this sign-off at the physical design stage with the total design cycle," said Badruddin Agarwala, president of FrontLine. As consideration for the merger, Avant! issued to FrontLine security holders an aggregate of approximately 2.2 million shares and options to purchase Avant! common stock in exchange for all the outstanding shares and options of FrontLine. The merger transaction will be accounted for as a pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. in the fourth quarter of 1996. Avant! will continue to support all FrontLine customers, including but not limited to: C-Cube, Digital, Fujitsu, Hitachi, OKI, Seiko Epson Seiko Epson Corporation (セイコーエプソン株式会社 and Silicon Graphics. About Avant! Avant! Corp. develops, markets and supports ICDA software for deep-submicron ICs, microprocessors, microcontrollers, application-specific standard products (ASSPs) and complex application-specific integrated circuits (ASICs). Company headquarters are in Sunnyvale, telephone: 408/738-8881. Additional information about Avant! Corp. and FrontLine is available at Avant!'s website at: www.avanticorp.com . -0- NOTE TO EDITORS: This press release contains certain forward-looking statements, including without limitation statements relating to the business prospects and results of operations of the combined company formed by the Avant!-FrontLine merger. These forward-looking statements involve risks and uncertainties including without limitation that the combined company will not successfully integrate products, technologies and personnel; that product overlap may occur; that litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. and other contingencies may adversely affect the combined company; and other risks and uncertainties indicated from time to time in Avant!'s filings with the Securities and Exchange Commission. Avant! is a trademark of Avant! Corp. Verilog is a trademark of Cadence Design Systems (company) Cadence Design Systems - A company that sells electronic design automation software and services. http://cadence.com/. See also Verilog. Inc. CONTACT: Avant! Corp. Vic Kulkarni, 408/738-8881 |
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