Cadence Design Systems, Inc. (NASDAQ: CDNS) said it has entered into a definitive agreement to acquire Jasper Design Automation, Inc. for approximately USD170m in cash.
Jasper had approximately USD24m of cash, cash equivalents and short-term investments as of December 31, 2013.
Jasper Design Automation is a market and technology leader in the fast-growing formal analysis sector, providing multiple verification solutions built on the JasperGold platform.
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. Its website is at www.cadence.com.