Siemens to acquire VC-backed Solido Design Automation

Germany's Siemens AG has agreed to acquire Solido Design Automation Inc, a Saskatoon-based provider of variation-aware design and characterization software to semiconductor companies. No financial terms were disclosed for the deal, which is expected to close in December. Siemens said the buy strengthens its commitment to customers in the integrated circuit industry. Solido will now join with Mentor Graphics Corp, which was acquired by Siemens earlier this year. Founded in 2005, Solido was backed by several Canadian investors, including BDC Capital and Golden Opportunities Fund, a retail fund overseen by Westcap Management.

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