agreed to buy
( AVNT) for stock worth $20.55 a share, or $769 million.
Both companies make technology used to design computer chips.
Synopsys also said it earned $24.5 million, or 39 cents a share, before items in the fourth quarter on revenue of $183.6 million; the consensus estimate had been 36 cents a share.
But the company lowered its first-quarter guidance, saying it now expects to earn 24 cents to 28 cents before items compared with a consensus estimate of 34 cents.