Cadence Expands IP Portfolio with Agreement to Acquire Cosmic Circuits

SAN JOSE, Calif., 07 Feb 2013 -- Cadence Design Systems, Inc. (NASDAQ: CDNS), a leader in global electronic design innovation, today announced an agreement to acquire Cosmic Circuits Private Limited, a leading provider of analog and mixed signal intellectual property (IP) cores. Cosmic Circuits offers silicon-proven IP solutions in connectivity and advanced mixed-signal technologies in the 40nm and 28nm process nodes, with 20nm and FinFET development well underway.

The addition of the Cosmic Circuits™ product line will broaden the Cadence® IP portfolio, strengthening its solutions to address mobile device, cloud/datacenter and “internet of things” market opportunities.

Martin Lund, Cadence’s senior vice president of R&D for SoC Realization said, “The addition of Cosmic Circuits’ stellar technology and talent enhances Cadence’s position as a leading provider for analog/mixed-signal IP. The combination of Cadence and Cosmic Circuits will provide customers with high quality IP to accelerate getting products to market.”

Founded in 2005 and based in Bangalore, India, Cosmic Circuits has been profitable from its first year of operation and has more than 75 customers worldwide. The company received TSMC’s 2010 and 2012 awards for Analog/Mixed Signal IP Partner of the Year.

Ganapathy Subramaniam, CEO of Cosmic Circuits said, “Cosmic Circuits has a strong track record working with leading foundries to qualify and sell silicon-proven IP in advanced nodes. Our focus on low-power mobile and time-to-market critical consumer IP markets will add to Cadence’s existing strength in high-speed serial IP for cloud/server applications.”

As part of this transaction, the IC and Systems business of Cosmic Circuits will be spun off into a separate new company to be owned by certain existing shareholders of Cosmic Circuits.

The acquisition is expected to close in 30 to 60 days, and is not expected to have a material impact on Cadence’s 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.