SAN JOSE, Calif., Nov. 30, 2011 (GLOBE NEWSWIRE) -- Magma Design
Automation Inc. (Nasdaq:LAVA), a provider of chip design software,
today announced the company has entered into a definitive agreement to
be acquired by Synopsys (Nasdaq:SNPS), a world leader in software and
IP used in the design, verification and manufacture of electronic
components and systems headquartered in Mountain View, Calif. The
combination of the two companies' technologies, development
capabilities, support teams and sales channels will provide chip
designers with greater access to state-of-the art electronic design
automation (EDA) solutions that enable more profitable silicon.

Under the terms of the merger agreement, Synopsys will acquire Magma
for $7.35 per Magma share in cash, resulting in a transaction value of
approximately $507 million net of cash and debt acquired. The closing
of the merger is subject to customary conditions, including approval by
Magma stockholders as well as U.S. regulators.

"Magma and Synopsys have always shared a common goal of enabling chip
designers to improve performance, area and power while reducing
turnaround time and costs on complex ICs," said Rajeev Madhavan, CEO of
Magma. "By joining forces now we can ensure that chip designers have
access to the advanced technology they need for silicon success at 28,
20 nanometer and below."

About Magma

Leading semiconductor companies worldwide use Magma's electronic design
automation (EDA) software to produce chips for a wide variety of
vertical markets including tablet computing, mobile devices, electronic
games, digital video, networking, military/aerospace and memory.
Silicon One, Magma's technology solutions for emerging silicon, address
time to market, product differentiation, cost and performance while
making silicon more profitable. Magma products include software for
digital design, analog implementation, mixed-signal design, physical
verification, circuit simulation, characterization and yield
management. The company maintains headquarters in San Jose, Calif., and
offices throughout North America, Europe, Japan, Asia and India.
Magma's stock trades on Nasdaq under the ticker symbol LAVA. Follow
Magma on Twitter at www.Twitter.com/MagmaEDA and on Facebook at
www.Facebook.com/Magma. Visit Magma Design Automation on the Web at
www.magma-da.com.

Magma is a registered trademark of Magma Design Automation Inc. All
other product and company names are trademarks or registered trademarks
of their respective companies.

Forward-Looking Statements:

Except for the historical information contained herein, the matters set
forth in this press release, including statements about the expected
benefits of the proposed transaction and the anticipated product plans
and strategies for the combined company, are forward-looking statements
within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995.These forward-looking
statements are subject to risks and uncertainties that could cause
actual results to differ materially including, but not limited to
delays in or failure to satisfy required closing conditions, including
the receipt of required regulatory approvals with respect to the
transaction; failure to consummate or delay in consummating the
transaction for other reasons; the possibility that the expected
benefits may not materialize as expected; failure to successfully
integrate the products, infrastructure and employees of Magma and
Synopsys; and the companies' abilities to keep pace with rapidly
changing technology and their products' abilities to produce desired
results. Further discussion of these and other potential risk factors
may be found in Magma's public filings with the Securities and Exchange
Commission (www.sec.gov). The forward-looking statements set forth in
this press release speak only as of the date hereof and Magma
undertakes no obligation to update these forward-looking statements due
to subsequent events or circumstances.

Additional Information and Where to Find It

In connection with the proposed merger, Magma Design Automation, Inc.
("Magma") will file a proxy statement and other relevant documents
concerning the transaction with the Securities and Exchange Commission
("SEC"). The definitive proxy statement will be mailed to stockholders
of Magma. Investors and stockholders of Magma are urged to read the
definitive proxy statement and other relevant documents when they
become available because they will contain important information about
the transaction. Copies of these documents (when they become available)
may be obtained free of charge by making a request to Magma's Investor
Relations Department either in writing to Magma Design Automation,
Inc., 1650 Technology Drive, San Jose, California 95110 or by telephone
to (408) 565-7799. In addition, documents filed with the SEC by Magma
may be obtained free of charge at the SEC's website at www.sec.gov or
by clicking on "SEC Filings" in the "Investors" section of Magma's
website at www.magma-da.com.

Magma and its directors and executive officers may be deemed to be
participants in the solicitation of proxies from Magma's stockholders
in respect of the transaction. Information regarding Magma's directors
and executive officers is contained in Magma's proxy statement for its
2011 Annual Meeting of Stockholders filed with the SEC on August 29,
2011. Additional information regarding Magma's directors, executive
officers and other persons who may, under rules of the SEC, be
considered participants in the solicitation of proxies in connection
with the transaction, including their respective interest in the
transaction by security holdings or otherwise, will be set forth in the
definitive proxy statement concerning the transaction when it is filed
with the SEC. Each of these documents is, or will be, available as
described above.


CONTACT: Magma Contacts:
         Press Relations
         Monica Marmie
         Director, Corporate Marketing
         (408) 565-7689
         mmarmie@magma-da.com
         
         Investor Relations
         Greg Wagenhoffer
         Vice President, Finance
         (408) 565-7799
         gregw@magma-da.com