Cadence Acquires High Speed Interface IP Assets of TranSwitch Corporation, Further Expanding IP Portfolio for Mobile/Consumer Market

San Jose, CA., February 13, 2014 - Adding to its rapidly expanding IP portfolio, Cadence Design Systems, Inc. (NASDAQ:CDNS), a leader in global electronic design innovation, today announced that it has acquired the high speed interface IP assets of TranSwitch Corporation and has also hired its experienced IP development team. Included in this transaction are silicon-proven controllers and PHY IP for Ethernet BaseT and display standards including HDMI, DisplayPort and MHL.

“The mobile and consumer markets are key drivers of today’s IP marketplace,” said Martin Lund, senior vice president of the IP Group at Cadence. “The addition of these important IP assets and the team that developed them boosts Cadence’s IP portfolio for these segments and gives Cadence differentiated offerings in the Ethernet and DisplayPort categories.”

The acquisition has been completed and is not expected to have a material impact on Cadence’s balance sheet or first quarter or fiscal 2014 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.