Synopsys reaches settlement with Elliott, says Jesse Cohn to join board

NEW YORK: Chip design software maker Synopsys has reached an agreement with activist investor Elliott Investment Management that will give one board seat to the activist investor’s managing partner Jesse ‌Cohn, the ⁠company ⁠said on Wednesday.

Synopsys, which has a market valuation of about $100 billion and counts Tesla and Google parent Alphabet among its customers, has held discussions with Elliott, one of the industry’s most powerful activists, for roughly two months.