Chip design software manufacturer Synopsys has acquired Intrinsic ID, a provider of Physical Unclonable Functions (PUF)-based IP that can be used in the design of system-on-chips (SoCs).

The terms of the deal have not been disclosed, and Synopsys has said it is not material to its financial operations.

Founded in 2008, Intrinsic IDF has developed PUF-based digital authentication technology that provides an additional level of hardware security to silicon chips. The company has raised a total of $48.3 million in funding over five rounds, with the latest funding coming from a debt financing round that closed earlier this month.

"In our increasingly connected world, chip designers are integrating PUF technology in their SoCs for many applications, including identification and the creation of a product ID for track and trace," said Joachim Kunkel, general manager of the Solutions Group at Synopsys.

He added: “The acquisition of Intrinsic ID complements our extensive semiconductor IP portfolio, further helping designers create SoCs that are at the heart of today's smart and connected devices. We look forward to expanding our R&D presence in the Netherlands with Intrinsic ID's team and establishing a center of excellence for PUF technology in Eindhoven."

The purchase of Intrinsic ID is the second acquisition Synopsys has made in 2024. In January of this year, the company acquired engineering and product design software firm Ansys in a $35 billion cash-and-stock deal.