PLANO, Texas, Nov. 2, 2022 — (PRNewswire) — Siemens Digital Industries Software today announced that it has signed an agreement to acquire Avery Design Systems, Inc., the leading simulation-independent verification IP supplier, headquartered in Tewksbury, MA, USA.  Siemens plans to add Avery's technology to the Siemens Xcelerator portfolio as part of its industry-leading suite of electronic design automation (EDA) integrated circuit (IC) verification offerings.

"The verification and verification IP markets continue to undergo major paradigm shifts," said Joseph Sawicki, Executive Vice President, IC-EDA, Siemens Digital Industries Software. "Increasing SoC complexity, demand for new protocols and standards, and broadening use of verification IP use cases present customers with new challenges relating to the verification of sophisticated, next-generation IC designs. The acquisition of Avery further extends Siemens' leadership in the verification space, adding Avery's impressive Verification Protocol and Compliance Test Suite offerings, critical verification IP market understanding and know-how, and eminent R&D talent. This can enhance Siemens' offerings across mainstream verification IP segments, while further extending Siemens verification solutions into areas such as High Performance Computing, Edge, Networking, and 3DICs."

"Customers need a complete protocol portfolio for their applications and verification IP available as soon as standards are released, as well as compliance testing solutions that can help reduce risk and help enhance the correctness of their protocols," said Chilai Huang, President and CEO, Avery Design Systems. "The Avery offerings enable this, helping system and SoC design teams to achieve dramatic functional verification productivity improvements. Being part of Siemens also allows growth opportunities for the business, with the combination of Avery's products and Siemens' Questa verification IP offerings enabling continued support of verification engineers across the entire spectrum of simulation solutions."

Siemens' acquisition of Avery Design Systems is subject to closing conditions and is anticipated to close in the first quarter of fiscal year 2023. Terms of the transaction were not disclosed.

Siemens Digital Industries Software helps organizations of all sizes digitally transform using software, hardware and services from the Siemens Xcelerator business platform. Siemens' software and the comprehensive digital twin enable companies to optimize their design, engineering and manufacturing processes to turn today's ideas into the sustainable products of the future. From chips to entire systems, from product to process, across all industries, Siemens Digital Industries Software is where today meets tomorrow.

Siemens Digital Industries (DI) is an innovation leader in automation and digitalization. Closely collaborating with partners and customers, DI drives the digital transformation in the process and discrete industries. With its Digital Enterprise portfolio, DI provides companies of all sizes with an end-to-end set of products, solutions and services to integrate and digitalize the entire value chain. Optimized for the specific needs of each industry, DI's unique portfolio supports customers to achieve greater productivity and flexibility. DI is constantly adding innovations to its portfolio to integrate cutting-edge future technologies. Siemens Digital Industries has its global headquarters in Nuremberg, Germany, and has around 76,000 employees internationally.

Siemens AG (Berlin and Munich) is a technology company focused on industry, infrastructure, transport, and healthcare. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation as well as advanced healthcare, the company creates technology with purpose adding real value for customers. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, helping them to transform the everyday for billions of people. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a globally leading medical technology provider shaping the future of healthcare. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power. 

In fiscal 2021, which ended on September 30, 2021, the Siemens Group generated revenue of €62.3 billion and net income of €6.7 billion. As of September 30, 2021, the company had around 303,000 employees worldwide. Further information is available on the Internet at  www.siemens.com.

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