Cadence Completes Acquisition of Evatronix IP Business

SAN JOSE, Calif. -- Jun 13, 2013 -- Cadence Design Systems, Inc. (NASDAQ: CDNS), a leader in global electronic design innovation, today announced that it has completed the acquisition of the IP business of Poland-based Evatronix, SA SKA. Further strengthening Cadence’s portfolio of intellectual property cores, Evatronix delivers a silicon-proven IP portfolio, which includes certified USB 2.0/3.0, MIPI, display, and storage controllers, which are highly complementary to Cadence’s IP product line.

The Evatronix team will report to Martin Lund, Cadence’s senior vice president of research and development, SoC Realization Group.

The acquisition is not expected to have a material impact on Cadence’s balance sheet or second quarter or fiscal 2013 results of operations. Terms of the transaction were not disclosed.

About Cadence

Cadence enables global electronic design innovation and plays an essential role in the creation of today's integrated circuits and electronics. Customers use Cadence software, hardware, IP, and services to design and verify advanced semiconductors, consumer electronics, networking and telecommunications equipment, and computer systems. The company is headquartered in San Jose, Calif., with sales offices, design centers, and research facilities around the world to serve the global electronics industry. More information about the company, its products, and services is available at www.cadence.com.