Mosaid Technologies inks a US$15-million deal to sell certain assets of its semiconductor IP product business to Synopsys. The terms of the agreement will see the California-based semiconductor design software company purchase the assets and intellectual property associated with Mosaid’s DDR memory controller and PLL product families. “With the sale…we will move forward as a pure-play intellectual property company…” says John Lindgren, Mosaid’s president and CEO. “We decided that these assets would perform better in the hands of an industry leader with complementary product lines and the scale to succeed in a competitive market...” Synopsys says it also plans to hire the Mosaid semiconductor IP engineering team. The agreement is expected to close in August 2007, with the payment subject to a US$2 million holdback for one year.