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Mentor to acquire LogicVision for $13M

Posted: 12 May 2009 ?? ?Print Version ?Bookmark and Share

Keywords:LogicVision acquisition? merger? BIST?

Mentor Graphics Corp. has signed a definitive merger agreement to acquire BIST technology provider LogicVision Inc. Under the terms of the agreement, which was approved by the boards of directors of both companies, LogicVision stockholders will receive 0.2006 of a share of Mentor common stock for each share of LogicVision, for aggregate consideration of approximately $13 million dollars.

"We are excited about the proposed combination with a successful company like Mentor, and believe that the transaction will allow our stockholders to continue to participate in the potential of the combined entity," said Jim Healy, LogicVision's president and CEO.

Under the terms of the merger agreement, the transaction is expected to be tax-free to the stockholders of LogicVision for U.S. federal income tax purposes. The transaction has been structured as a stock-for-stock reverse triangular merger whereby a wholly owned subsidiary of Mentor will merge with and into LogicVision, with LogicVision surviving the merger as a wholly owned subsidiary of Mentor Graphics. The transaction is subject to the approval of LogicVision stockholders as well as customary closing conditions (but is not subject to regulatory approvals). The transaction is expected to close during the Q3 09.

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