Cadence completes acquisition of Evatronix IP business

USA: Cadence Design Systems Inc. has completed the acquisition of the IP business of Poland-based Evatronix, SA SKA.

Further strengthening Cadence's portfolio of intellectual property cores, Evatronix delivers a silicon-proven IP portfolio, which includes certified USB 2.0/3.0, MIPI, display, and storage controllers, which are highly complementary to Cadence's IP product line.

The Evatronix team will report to Martin Lund, Cadence's senior VP of R&D, SoC Realization Group.

The acquisition 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.