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Avant, developer of submicron integrated circuit design automation (ICDA) technology, announced that its merger with Technology Modeling Associates was approved by the shareholders of each company. Under the terms of the merger agreement, Avant will issue approximately 5,376,000 shares of its common stock in exchange for all outstanding TMA shares. Each share of TMA common stock will be exchanged for 0.662045 shares of Avant common stock. Total value of the deal is approximately $95 million.