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Mentor acquires CAD software provider

Posted: 15 Oct 2009 ?? ?Print Version ?Bookmark and Share

Keywords:Mentor Valor acquisition? CAD? software?

Mentor Graphics Corp. and Valor Computerized Systems Ltd have singed a definitive merger agreement, under which Mentor will acquire Valor for an aggregate consideration of approximately $82 million. Valor creates computer-aided-design (CAD) software that is used to design PCBs

Valor shareholders will receive a combination of Mentor common shares and cash equating to approximately $4.60 per Valor share. The agreement has been approved by the boards of directors of both companies, but is still subject to satisfaction of regulatory requirements and approval of Valor shareholders, as well as certain closing conditions. Shareholders owning approximately 50 percent of outstanding shares of Valor have committed to vote in favor of the transaction. It is expected to close in Q1 10, after which Valor will become a wholly-owned subsidiary of Mentor.

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