NEW YORK, May 27 : Chip design software maker Synopsys has reached an agreement with activist investor Elliott Investment Management that will give one board seat to the activist investor’s managing partner Jesse Cohn, the company said on Wednesday. The board is being expanded to 11 members with the appointment of Cohn, who will also join the board’s corporate governance and nominating committee, it added. Synopsys, which has a market valuation of about $100 billion and counts Tesla and Google parent Alphabet among its customers, has held discussions with Elliott, one of the industry’s most powerful activists, for roughly two months. “Synopsys is essential to the global chip industry and is well-positioned to benefit from increasing AI investment and engineering complexity,” Cohn said in a statement. Elliott, which has a history of successful investments at technology and semiconductor companies, pushed the company to improve its margins, and Synopsys’ stock price has climbed roughly 20 per cent since Elliott’s involvement became public. The hedge fund built a multi-billion-dollar investment in the company, sources familiar with the …