Avant! Corp, developer of integrated circuit design automation software, says it expects to take a significant third-quarter charge for in-process research and development in connection with its $44m purchase of the Compass Design Automation subsidiary from VLSI Technology Inc (CI No 3,217). The acquisition, which has now been completed, involved Avant! forking over $17.5m and 522,192 common shares in exchange for all outstanding Compass common and preferred stock. Avant! will report third-quarter numbers on October 14.
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