ForSyDe (FORmal SYstem DEsign) is a methodology which addresses the design of SoC applications which may contain control as well as data flow dominated parts. Starting with a formal system specification, which captures the functionality of the system, it provides refinement methods inside the functional domain to transform the abstract specification into an efficient implementation model which serves as a starting point for synthesis into hardware and software. In this paper we illustrate with a case study of a digital equalizer how a ForSyDe model can be synthesized into a hardware, a software or a combined hardware/software implementation. Categories and Subject Descriptors B.7.2 [Integrated Circuits]: Design-Aids; J.6 [Computer-Aided Engineering]: Computer-Aided Design (CAD) General Terms Design Keywords Hardware Synthesis, Software Synthesis, Design Methodology, System Design