Synopsys, Inc. (Nasdaq: SNPS) today announced that it has entered into accelerated share repurchase agreements (ASRs) with JPMorgan Chase Bank, National Association, and MUFG Securities EMEA plc. to repurchase an aggregate of $200 million of Synopsys stock.
Under the terms of the ASRs, Synopsys will receive an aggregate initial share delivery of approximately 1.8 million shares, with the remainder, if any, to be settled on or before May 16, 2018, upon completion of the repurchases. The specific number of shares that Synopsys ultimately repurchases under the ASRs will be based on Synopsys’ volume-weighted average share price during the repurchase period, less a discount.
About Synopsys
Synopsys, Inc. is the Silicon to Software partner for innovative companies developing the electronic products and software applications we rely on every day. As the world’s 15th largest software company, Synopsys has a long history of being a global leader in electronic design automation (EDA) and semiconductor IP and is also growing its leadership in software security and quality solutions. Whether you’re a system-on-chip (SoC) designer creating advanced semiconductors or a software developer writing applications that require the highest security and quality, Synopsys has the solutions needed to deliver innovative, high-quality, secure products. Learn more at www.synopsys.com.
