Silvaco settles litigation with former Nangate shareholders

Silvaco Group Inc. (NASDAQ: SVCO) announced it reached a settlement resolving litigation with former Nangate shareholders. The Court of Appeal reversed previous fraud and breach of contract verdicts, and all parties dismissed their claims.

The Santa Clara, California-based semiconductor design software company stated through a spokesperson that it had "consistently rejected any suggestion of fraud or breach of contract regarding the acquisition of Nangate" and expressed satisfaction with reaching a settlement.

The settlement concludes legal proceedings related to Silvaco's previous acquisition of Nangate. The company did not disclose financial terms of the settlement agreement.

Silvaco provides semiconductor design software and solutions including TCAD, EDA software, and SIP solutions for various markets including automotive, memory, high performance computing, and 5G/6G mobile applications.

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