Cooper & Chyan Technology completes UniCAD acquisition.CUPERTINO, Calif.--(BUSINESS WIRE)--Aug. 29, 1996--Cooper & Chyan Technology Inc. ("CCT CCT Circuit CCT Commission Canadienne du Tourisme (Canadian Tourism Commission) CCT Correlated Color Temperature CCT Common Customs Tariff (EU) CCT Certificate of Completion of Training ") (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 :CCTI CCTI Climate Change Technology Initiative CCTI Composite Can Tube Institute CCTI Chairman of the Joint Chiefs of Staff commended training issue (US DoD) CCTI Control Center Technology Interchange CCTI Chief's Call To Initiation ) announced today that it had completed its acquisition of UniCAD Inc. on Wednesday, Aug. 28, 1996. UniCAD will continue to operate under its name in Ottawa, Ontario as a wholly-owned subsidiary of CCT. CCT agreed in July to acquire UniCAD in a transaction valued at approximately $10.3 million based on CCT's Aug. 27 closing price. CCT will issue approximately 389,000 shares to acquire UniCAD's outstanding common stock and up to 71,273 additional shares as the converted UniCAD options are vested and excercised. The transaction is structured as a tax-free reorganization and will be accounted 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. . "The development of concurrent routing and analysis will establish the next frontier for fast circuit PCB PCB: see polychlorinated biphenyl. PCB in full polychlorinated biphenyl Any of a class of highly stable organic compounds prepared by the reaction of chlorine with biphenyl, a two-ring compound. design tools," said Jack Harding, president and chief executive officer of CCT. "We believe the integration of the CCT and UniCAD technologies will provide our customers with enhanced capabilities in dealing with the emerging issues of high speed electronic design." Cupertino-based CCT is a leader in fast circuit interconnection software for PCBs, MCMs and ICs. Its SPECCTRA family of products is the industry standard place and route solution for today's demanding PCB and MCM (MultiChip Module or MicroChip Module) A chip package that contains several bare chips mounted close together on a substrate (base) of some kind. fast-circuit layouts. CCT's IC Craftsman tools suite is a constraint-driven ShapeBased place and route solution for custom and structured custom ICs, and is providing the opportunity for significant productivity improvement to layout engineers. UniCAD, with headquarters in Ottawa, Canada was established in 1993 to market advanced electronic design automation software tools that increase the quality of printed circuit boards and shorten the design cycle. UniCAD's UniSolve product family offers signal integrity, electromagnetic emissions (EMI (ElectroMagnetic Interference) An electrical disturbance in a system due to natural phenomena, low-frequency waves from electromechanical devices or high-frequency waves (RFI) from chips and other electronic devices. Allowable limits are governed by the FCC. ), thermal and reliability tools. UniCAD's SyntheSolve suite integrates the UniRule and the UniSolve product family with CCT's SPECCTRA product family. -0- Note to Editors: UniSolve and SyntheSolve are trademarks of UniCAD Inc. SPECCTRA is a registered trademark of Cooper & Chyan Technology Inc. IC Craftsman and ShapeBased are trademarks of Cooper & Chyan Technology Inc. CONTACT: Cooper & Chyan Technology Inc. Geoffrey Indrajo, 408/366-6966 or UniCAD Inc. Susan Toland, 508/692-8446 or Lee Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Ed Lee, 415/363-0142 |
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