Magma Design Automation
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| Public NASDAQ: LAVA | |
| Industry | Software & Programming |
| Founded | 1997 |
| Headquarters | San Jose, California |
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Key people
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Rajeev Madhavan, CEO |
| Revenue | $139.3 million USD (FY 2011) |
| Website | www.magma-da.com |
Rajeev Madhavan, CEO
Roy Jewell, President
Magma Design Automation was a software company in the electronic design automation (EDA) industry. The company was founded in 1997 and maintained headquarters in San Jose, California, with facilities throughout North America, Europe, Japan, Asia and India. Magma software products were used in major elements of chip development, including: synthesis, placement, routing, power management, circuit simulation, verification and analog/mixed-signal design.
Magma was acquired by Synopsys in a merger finalized February 22, 2012 at a cash value of about $523 million, or $7.35 per Magma share.
Magma was founded in 1997 by a team including Rajeev Madhavan, who served as chairman, CEO and president from the company's inception. The company initially competed primarily with Cadence and Avanti Corporation in physical design but eventually broadened its product portfolio and competed with all three of the largest established EDA companies: Cadence, Mentor Graphics and Synopsys. Magma had a particularly strong presence in the convergence device segment through key customers such as Qualcomm, Broadcom and Texas Instruments. In 2001 Roy Jewell joined Magma as chief operating officer and later that year added the title of president.
Magma completed an initial public offering on Nasdaq, under the ticker symbol LAVA, on November 20, 2001 — the last EDA company to go public — and achieved its peak annual revenue of $214.4 million in its 2008 fiscal year. Magma was the fourth largest EDA company by revenue.
In 2002 Magma was named to the Red Herring 100 for innovation and business strategy. In 2005 Forbes ranked Magma No. 2 on its list of fastest-growing technology companies.
Magma software was used to design chips for cell phones, networking, automotive products, electronic games, portable music players and digital media.
Magma acquired about a dozen companies during its existence, among them Moscape (2000), Silicon Metrics (2003), Mojave (2004), Knights Technology (2006), ACAD Corp. (2006) and Sabio Labs (2008).
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