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EE Times-India > EDA/IP

Mentor buys Valor for Rs.400.29 crore

Posted: 15 Oct 2009     Print Version  Bookmark and Share

Keywords:Mentor Valor acquisition  CAD  software 

EDA leader Mentor Graphics Corp. and Valor Computerised Systems Ltd have signed a definitive merger agreement for Mentor Graphics to acquire Valor, a company that creates computer-aided-design (CAD) software that is used to design PCBs.

The agreement has been approved by the boards of directors of both companies, and shareholders owning approximately 50 per cent of outstanding shares of Valor have committed to vote in favour of the transaction. The agreement states that Valor shareholders will receive a combination of Mentor common shares and cash for aggregate consideration of approximately Rs.400.29 crore ($82 million), equating to approximately Rs.224.55 ($4.60) per Valor share. The merger is subject to the satisfaction of regulatory requirements, the approval of Valor shareholders, and certain closing conditions. The transaction is expected to close in Q1 10, after which Valor will become a wholly-owned subsidiary of Mentor.

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