Cadence to acquire IP business of Evatronix, expanding IP portfolio

GERMANY: Cadence Design Systems, Inc. announced its intent to acquire the IP business of Evatronix SA SKA, adding to its rapidly expanding IP offering.

Based in Poland, Evatronix delivers a silicon-proven IP portfolio, which includes certified USB 2.0/3.0, Display, MIPI, and storage controllers, which are highly complementary to Cadence's IP offering.

"The rapid innovations in the mobile, connectivity and cloud markets are driving today's IP marketplace," said Martin Lund, senior vice president of research and development, SoC Realization Group. "Evatronix's IP products will boost Cadence's offering for these segments, with high quality leading-edge IP that is production-proven."

Evatronix co-founder and president Wojciech Sakowski said: "Evatronix's IP cores and services are designed for ease-of-integration, quality and time-to-market. As part of Cadence, we will be able to reach more customers globally and to accelerate our IP roadmaps. The integration with Cadence will allow our customers to get to market faster with less effort."

The acquisition is expected to close in the second quarter of 2013, and 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.