Mountain View-based Synopsys (SNPS) will be added to the prestigious S&P 500 Index of publicly-traded companies before the start of stock market trading on Thursday.
Synopsys has a market capitalization of $10.5 billion as of Wednesday afternoon.
The addition of a company to the S&P 500 could give a boost to its share price since many large stock funds track the index and will have to buy shares for their portfolios. Synopsys was part of the S&P MidCap 400. The company will replace Harman International Industries Inc. in the S&P 500 which was acquired this week by Samsung.
Synopsys was founded in 1986 and has more than 11,000 employees and $2.4 billion in revenue.