Cadence Design Systems, Inc. (Nasdaq: CDNS) and Ceva, Inc. (Nasdaq: CEVA), a licensor of wireless connectivity and smart sensing technologies, have entered into a definitive agreement for Cadence to acquire Intrinsix Corporation, a wholly owned subsidiary of Ceva and a provider of design engineering solutions focused on the U.S. aerospace and defense industry.
The purchase will bring Cadence a skilled engineering team that has expertise in advanced nodes, radio frequency, mixed-signal and security algorithms.
The acquisition is expected to be immaterial to revenue and earnings this year for Cadence and is subject to certain closing conditions.
Cadence is a pivotal leader in electronic systems design, building upon more than 30 years of computational software expertise. The company applies its underlying Intelligent System Design™ strategy to deliver software, hardware and IP that turn design concepts into reality. Customers include innovative companies, delivering products from chips to boards to complete systems for the most dynamic market applications, including hyperscale computing, 5G communications, automotive, mobile, aerospace, consumer, industrial and healthcare.
FinSMEs
23/09/2023