Cadence Completes Acquisition of Intrinsix

SAN JOSE, Calif. & ROCKVILLE, Md.-- October 2, 2023 — Cadence Design Systems, Inc. (Nasdaq: CDNS) and CEVA, Inc. (Nasdaq: CEVA) today announced that Cadence has completed its acquisition of Intrinsix Corporation from CEVA. The purchase brings Cadence a highly skilled engineering team with expertise in advanced nodes, radio frequency, mixed-signal and security algorithms, scaling Cadence’s system and IC design services team and expanding Cadence’s reach in key high-growth verticals, including aerospace and defense.

About Cadence

Cadence is a pivotal leader in electronic 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. Cadence® customers are the world’s most innovative companies, delivering extraordinary electronic products from chips to boards to systems for the most dynamic market applications, including consumer, hyperscale computing, 5G communications, automotive, mobile, aerospace, industrial and healthcare. For nine years in a row, Fortune magazine has named Cadence one of the 100 Best Companies to Work For. Learn more at www.cadence.com.

About CEVA

CEVA is the leading licensor of wireless connectivity and smart sensing technologies for a smarter, safer, connected world. CEVA provides Digital Signal Processors, AI engines, wireless platforms, cryptography cores and complementary embedded software for sensor fusion, image enhancement, computer vision, spatial audio, voice input and artificial intelligence. Leveraging its technologies, many of the world’s leading semiconductors, system companies and OEMs create power-efficient, intelligent, secure and connected devices for a range of end markets, including mobile, consumer, automotive, robotics, industrial and IoT.

CEVA’s DSP and edge AI based solutions include platforms for 5G baseband processing in mobile, IoT and infrastructure, advanced imaging and computer vision for any camera-enabled device, audio/voice/speech and ultra-low-power always-on/sensing applications for multiple IoT markets. For motion sensing solutions, CEVA’s Hillcrest Labs sensor processing technologies provide a broad range of sensor fusion software and inertial measurement unit solutions for markets including hearables, wearables, AR/VR, PC, robotics, remote controls and IoT. For wireless IoT, CEVA’s platforms for Bluetooth connectivity (low energy and dual mode), Wi-Fi 4/5/6 (802.11n/ac/ax), Ultra-wideband (UWB), NB-IoT and GNSS are the most broadly licensed connectivity platforms in the industry.

CEVA is a sustainable and environmentally conscious company, adhering to its Code of Business Conduct and Ethics. As such, CEVA emphasizes and focuses on environmental preservation, recycling, the welfare of its employees and privacy – which it promotes on a corporate level. CEVA is committed to social responsibility, values of preservation and consciousness towards these purposes.

Visit www.ceva-dsp.com.