Mentor Graphics Buys Sierra Design

Mentor Graphics Corp. (Nasdaq: MENT) has acquired Sierra Design Automation Inc., a Santa Clara, Calif.-based provider of place and route software. The deal was valued at $90 million, with half in cash and the other half in Mentor Graphics common stock. Sierra Design had raised around $22 million in VC funding since 2004, from Artiman Ventures, Evercore Partners and TeleSoft Partners.