WASHINGTON (dpa-AFX) - Synopsys, Inc. (SNPS), Wednesday announced an agreement with Globalfoundries Inc. (GFS) to sell its Processor IP Solutions business, which includes ARC-V and ARC CPU IP, DSP IP, Neural Network Processing Unit IP, and related software development tools, including ARC MetaWare Development Toolkits.
Additionally, the deal includes Synopsys' ASIP Designer and ASIP Programmer tools for automating the design and implementation of application-specific instruction-set processors.
However, the financial details of the deal have not been disclosed.
With this transaction, Synopsys aims to focus on its IP resources as well as AI-driven opportunities from the cloud to the edge, whereas GlobalFoundries intends to strengthen its differentiated technology roadmap.
The transaction is expected to be completed in the second half of calendar year 2026.
Currently, SNPS is trading at $506.40, down 1.13 percent, and GFS is trading at $41.95, up 2.64 percent on the Nasdaq.
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