Synopsys To Acquire BISTel's Semiconductor, Flat Panel Display Solutions Business For Undisclosed Sum

Synopsys Inc (NASDAQ:SNPS) inked an agreement to acquire the semiconductor and flat panel display solutions from BISTel, specialized in engineering equipment systems and AI applications for smart semiconductor manufacturing, headquartered in South Korea.
The financial terms of the transaction remain undisclosed.
The acquisition will broaden Synopsys' process control solutions for semiconductor fabs with integrated and comprehensive yield management and prediction solution for manufacturing quality and efficiency.
The transaction is estimated to close in Q4 of 2021.
Synopsys held $1.46 billion in cash and equivalents as of Apr. 30, 2021.
Price action: SNPS shares traded lower by 0.29% at $265.10 on the last check Monday.