Tuesday, October 13, 2009
EDA vendor Mentor Graphics Corp. will acquire Israel's Valor Computerized Systems Ltd. for about $82 million in cash and stock under the terms of a definitive merger agreement announced by the companies Monday (Oct. 12).
The agreement, which has been approved by the boards of directors of both companies, calls for Valor shareholders to receive a combination of Mentor common shares and cash equal to about $4.60 per Valor share, the companies said.
The transaction, which remains subject to regulatory approval, is expected to close during the first quarter of 2010, after which Valor will become a wholly-owned subsidiary of Mentor (Wilsonville, Ore.), the companies said.
Shareholders owning approximately 50 percent of outstanding shares of Valor have already committed to vote in favor of the transaction, the companies said.
Valor (Yavne, Israel) provides productivity improvement software solutions for the printed circuit board manufacturing supply chain. Valor's solutions target three segments in the pc board manufacturing market: design of the physical layout of the pc board, fabrication of the bare pc board and assembly of pc board components.
By: DocMemory
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