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Mentor Graphics acquires built-in-self-test specialist
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LogicVision, a built-in-self-test technology specialist is to be acquired by Mentor Graphics for approximately US$13 million. The transaction has been structured as a stock-for-stock reverse triangular merger whereby a wholly owned subsidiary of Mentor Graphics will merge with and into LogicVision, with LogicVision surviving the merger as a wholly owned subsidiary of Mentor Graphics.
LogicVision had revenues of US$3.1 million in the first quarter of 2009 with a net loss of US$104,000. Its current order backlog stood at US$17.4 million as of March 31, 2009.