Cadence Acquires Invecas to Accelerate System Realization
08 Gennaio 2024 - 3:15PM
Business Wire
Transaction brings Cadence skilled system
design expertise in delivering end-to-end custom solutions to
customers across multiple industries
Cadence Design Systems, Inc. (Nasdaq: CDNS)
announced today that it has acquired Invecas, Inc., a leading
provider of design engineering, embedded software and system-level
solutions, headquartered in Santa Clara, California. The purchase
adds a skilled system design engineering team to Cadence, with
expertise in providing customers with custom solutions across chip
design, product engineering, advanced packaging and embedded
software.
Accelerating trends such as digital transformation of multiple
vertical markets and more system companies building custom silicon
continue to drive strong design activity. Additionally, with
classic Moore’s law slowing down, new “More than Moore”
technologies, such as advanced 2.5D/3D packaging and chiplets, are
paving the way for significant performance and manufacturing
efficiencies. These strategic generational trends, underpinned by
advancements in AI, are ushering in a new era of design and
spurring a rapidly growing customer need for skilled end-to-end
engineering expertise in enabling their custom silicon and system
development efforts.
The acquisition brings a skilled engineering team centered in
Hyderabad, led by Invecas CEO Dasaradha Gude, that has vast
experience in delivering end-to-end system solutions with deep
expertise in advanced nodes, mixed-signal, verification, embedded
software, packaging and turnkey custom silicon production. Invecas
has built close relationships with key players in the design
ecosystem as well as with top foundry and assembly and test
partners. With extensive experience designing chips and taking them
to production, Invecas has served hundreds of customers across
various verticals, including mobile, networking, hyperscaler and
automotive. In addition to Cadence’s leading EDA solutions, Invecas
will also leverage and augment Cadence’s broad IP portfolio to
enable more comprehensive custom product solutions.
“With complexity and challenges increasing due to the
proliferation of AI, 2.5D/3D and chiplet designs, customers need
access to experienced teams that can assist with bringing designs
from ideation to production,” said Boyd Phelps, senior vice
president and general manager, Silicon Solutions Group, Cadence.
“With the acquisition of Invecas, Cadence is able to scale our
system design engineering offerings to support customers in
critical high-growth verticals who are faced with the need to
aggressively increase performance while tackling ever-increasing
system-level complexity.”
“Generational trends are accelerating the increases in design
complexity and driving a customer need for skilled engineering
talent that can assist with system design,” said Dasaradha Gude,
CEO, Invecas. “We are excited to join the Cadence team and to
enhance the solutions available to customers, utilizing our core
expertise to accelerate customer silicon and system development
efforts.”
The terms of the transaction were not disclosed. The acquisition
is expected to be immaterial to Cadence’s total revenue and
earnings this year.
About Cadence
Cadence is a pivotal leader in electronic systems design,
building upon more than 35 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 products from
chips to boards to complete systems for the most dynamic market
applications, including hyperscale computing, 5G communications,
automotive, mobile, aerospace, consumer, 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.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995, including but not limited
to, statements regarding Cadence’s talent, product development and
service offerings, business strategy, plans and opportunities,
industry and market trends, and financial outlook. Forward-looking
statements are based on current expectations, estimates, forecasts
and projections. Words such as “expect,” “anticipate,” “should,”
“believe,” “hope,” “target,” “project,” “goals,” “estimate,”
“potential,” “predict,” “may,” “will,” “might,” “could,” “intend,”
“shall” and variations of these terms and similar expressions are
intended to identify forward-looking statements, although not all
forward-looking statements contain these identifying words.
Forward-looking statements are subject to a number of risks,
uncertainties and other factors, many of which are outside
Cadence’s control. For example, the markets for its products and
services may develop more slowly than expected or than they have in
the past; its operating results and cash flows may fluctuate more
than expected; a network or data security incident that allows
unauthorized access to its network or data or customers’ data could
damage its reputation; risks associated with tax liabilities or
changes in U.S. federal tax laws or interpretations to which the
transaction or parties thereto are subject; Cadence may fail to
successfully integrate Invecas; Cadence may fail to realize the
anticipated benefits of the acquisition; Cadence may experience
unanticipated costs of acquiring or integrating Invecas; the
potential impact of the acquisition on relationships with third
parties, including employees, customers, partners and competitors;
Cadence may be unable to motivate and retain key personnel; changes
in or failure to comply with legislation or government regulations
could affect the post-closing operations and results of operations;
and macroeconomic and geopolitical conditions could deteriorate.
Further information on potential factors that could affect
Cadence’s ability to successfully integrate Invecas or otherwise
realize the anticipated benefits of the acquisition is included in
Cadence’s most recent report on Form 10-K and subsequent reports on
Form 10-Q and its other filings with the Securities and Exchange
Commission. The forward-looking statements included in this press
release represent Cadence’s views as of the date of this press
release, and Cadence undertakes no obligation to update any of them
publicly in light of new information or future events.
© 2024 Cadence Design Systems, Inc. All rights reserved
worldwide. Cadence, the Cadence logo and the other Cadence marks
found at www.Cadence.com/go/trademarks are trademarks or registered
trademarks of Cadence Design Systems, Inc. All other trademarks are
the property of their respective owners.
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