Cadence acquires EDA specialist for $315million

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Cadence Design Systems has announced it is to acquire Denali Software, a provider of EDA software and intellectual property for $315million. The companies have entered into a definitive merger agreement under which Denali is expected to have $45m at closing.

"Denali's strengths in memory models, design IP, and verification IP accelerate the execution of Cadence's recently announced EDA360* vision, creating new opportunities for the company," said Lip-Bu Tan (pictured), president and chief executive officer of Cadence. "We are excited to welcome Denali's talented employees and look forward to delivering the value inherent in this combination." Sanjay Srivastava, president and chief executive officer of Denali, added: "Bringing our two companies together provides a path for future growth, as well as expanded opportunities for our customers and employees. Cadence is a leader in global electronic design and is the right match for Denali and its employees. I am personally excited to be a part of the Cadence team and to help realise the EDA360 vision." *The EDA360 centres on three components: (1) System Realisation: The development of a complete hardware/software platform with all of the capabilities needed to begin applications development and deployment; (2) SoC Realisation: The development of a single system on chip, including silicon IP and 'bare-metal' software; and (3) Silicon Realisation: Everything required to get a design into silicon, including the creation and integration of large digital, analogue, and mixed signal IP blocks.