Mentor Graphics buys IC company, Sierra Design for $90M

Mentor Graphics has acquired Sierra Design Automation, a Santa Clara, Calif. provider of IC implementation system technology to the semiconductor industry. The deal was valued at $90 million, split evenly between cash and stock, according to PE Wire. Sierra Design had raised around $22 million in VC funding since 2004, from Artiman Ventures, Evercore Partners and TeleSoft Partners.