8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): February 21, 2008

MAGMA DESIGN AUTOMATION, INC.

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of incorporation)

000-33213	77-0454924
(Commission File Number)	(I.R.S. Employer Identification Number)

1650 Technology Drive, San Jose, California	95110
(Address of principal executive offices)	(Zip Code)

(408) 565-7500

(Registrant’s telephone number, including area code)

Not applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events.

On February 21, 2008 Magma Design Automation, Inc. issued a press release announcing a share repurchase program. The text of the press release is included as Exhibit 99.1 to this Form 8-K.

The information in this Form 8-K and the Exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Act of 1934 (the “Exchange Act”), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

The following exhibit is furnished herewith:

Exhibit No.	Description
99.1	Press Release issued February 21, 2008.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	MAGMA DESIGN AUTOMATION, INC.
Dated: February 22, 2008	By:	/s/ Peter S. Teshima
		Peter S. Teshima
		Corporate Vice President- Finance and Chief Financial Officer

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press Release issued February 21, 2008.

EX-99.1

Exhibit 99.1

News Release

Magma Design Automation Authorizes Common Share Repurchase Program

SAN JOSE, Calif., Feb. 21, 2008 — Magma Design Automation, Inc. (Nasdaq: LAVA), a provider of chip design software, today announced that its Board of Directors has approved a stock buy-back program authorizing Magma to purchase up to $20 million of its common stock. Any repurchases will be done on the open market at prevailing market prices or in privately negotiated transactions from time to time based upon market and business conditions. The buy-back program may be suspended or discontinued at any time, and will be funded using Magma’s available cash.

About Magma

Magma’s software for designing integrated circuits (ICs) is used to create complex, high-performance chips required in cellular telephones, electronic games, WiFi, MP3 players, DVD/digital video, networking, automotive electronics and other electronic applications. Magma’s EDA software for IC implementation, analysis, physical verification, circuit simulation and characterization is recognized as embodying the best in semiconductor technology, enabling the world’s top chip companies to “Design Ahead of the Curve”™ while reducing design time and costs. Magma is headquartered in San Jose, Calif., with offices around the world. Magma’s stock trades on Nasdaq under the ticker symbol LAVA. Visit Magma Design Automation on the Web at www.magma-da.com.

Forward-Looking Statements

Statements in this press release may be considered forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the possibility that Magma may repurchase its shares under the repurchase program. Actual results may differ materially from those set forth in the forward-looking statements in this press release. Factors that could affect these forward-looking statements include, but are not limited to: changes in the level of Magma’s cash resources and the company’s planned uses of such resources; changes in the company’s stock price; and developments in the business that could increase the company’s cash needs. These and other risks are discussed in the Magma’s reports on Form 10-K and 10-Q filed with the Securities and Exchange Commission. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Magma undertakes no duty to update these forward-looking statements.

Magma is a registered trademark and “Design Ahead of the Curve” is a trademark, of Magma Design Automation Inc. All other product and company names are trademarks or registered trademarks of their respective companies.

# # #

LAVA-F

Contacts:

Magma Design Automation Inc. Monica Marmie Director, Marketing Communications (408) 565-7689 monical@magma-da.com Milan G. Lazich Vice President, Corporate Marketing (408) 565-7706 milan.lazich@magma-da.com