Benzinga | Jun 21, 2021 10:16AM EDT

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.