Synopsys Inc. and Magma Design Automation have agreed to settle all pending litigation between them. As part of the settlement,
- Synopsys and Magma agree to release all claims in both California and Delaware and to cross license the patents at issue in these jurisdictions as well as any related applications;
- Both companies agree not to initiate future patent litigation against each other for 2 years provided certain terms are met;
- Magma agrees to make a payment to Synopsys of $12,500,000 toward the settlement of this dispute; and,
- All other terms of the settlement are confidential.
"For us, this case has always been about the return of Synopsys technology and the protection of our IP, and we have achieved this," said Aart de Geus, Chairman and CEO of Synopsys. "Looking forward, we will focus our energy fully toward our customers' success and concentrate on growing our business."
"This unfortunate episode involved significant expense to both sides," said Rajeev Madhavan, Chairman and CEO, Magma. "I am pleased we found common ground for a resolution that makes business sense for both of us."
MagmaSynopsys
