Arteris IP entered into definitive agreement to acquire the assets from Magillem Design Services SA.

Arteris IP entered into definitive agreement to acquire the assets from Magillem Design Services SA (ENXTPA:MLMGL) on October 1, 2020. Substantially all Magillem team members will be joining Arteris IP. As part of Arteris IP, Magillem's software products will continue to be offered separately from the Arteris interconnect IP offerings and the joined company will continue to execute on Magillem's existing product and technology roadmaps.

The proposed transaction is subject to customary closing conditions. The transaction is expected to take place during the fourth quarter of 2020.