Cadence Design Systems, Inc. (Nasdaq: CDNS) and CEVA, Inc.
(Nasdaq: CEVA) today announced that Cadence has completed its
acquisition of Intrinsix Corporation from CEVA. The purchase brings
Cadence a highly skilled engineering team with expertise in
advanced nodes, radio frequency, mixed-signal and security
algorithms, scaling Cadence’s system and IC design services team
and expanding Cadence’s reach in key high-growth verticals,
including aerospace and defense.
About Cadence
Cadence is a pivotal leader in electronic design, building upon
more than 30 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 electronic products from chips
to boards to systems for the most dynamic market applications,
including consumer, hyperscale computing, 5G communications,
automotive, mobile, aerospace, 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.
About CEVA
CEVA is the leading licensor of wireless connectivity and smart
sensing technologies for a smarter, safer, connected world. CEVA
provides Digital Signal Processors, AI engines, wireless platforms,
cryptography cores and complementary embedded software for sensor
fusion, image enhancement, computer vision, spatial audio, voice
input and artificial intelligence. Leveraging its technologies,
many of the world’s leading semiconductors, system companies and
OEMs create power-efficient, intelligent, secure and connected
devices for a range of end markets, including mobile, consumer,
automotive, robotics, industrial and IoT.
CEVA’s DSP and edge AI based solutions include platforms for 5G
baseband processing in mobile, IoT and infrastructure, advanced
imaging and computer vision for any camera-enabled device,
audio/voice/speech and ultra-low-power always-on/sensing
applications for multiple IoT markets. For motion sensing
solutions, CEVA’s Hillcrest Labs sensor processing technologies
provide a broad range of sensor fusion software and inertial
measurement unit solutions for markets including hearables,
wearables, AR/VR, PC, robotics, remote controls and IoT. For
wireless IoT, CEVA’s platforms for Bluetooth connectivity (low
energy and dual mode), Wi-Fi 4/5/6 (802.11n/ac/ax), Ultra-wideband
(UWB), NB-IoT and GNSS are the most broadly licensed connectivity
platforms in the industry.
CEVA is a sustainable and environmentally conscious company,
adhering to its Code of Business Conduct and Ethics. As such, CEVA
emphasizes and focuses on environmental preservation, recycling,
the welfare of its employees and privacy – which it promotes on a
corporate level. CEVA is committed to social responsibility, values
of preservation and consciousness towards these purposes.
Visit www.ceva-dsp.com and follow on Twitter, YouTube, Facebook,
LinkedIn and Instagram.
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. 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
networks 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
Intrinsix; Cadence may fail to realize the anticipated benefits of
the acquisition; Cadence may experience unanticipated costs of
integrating Intrinsix; the impact of the consummation 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 legislation
or government regulations could affect the post-closing operations
and results of operations; and macroeconomic and geopolitical
conditions could deteriorate. For a detailed discussion of these
and other cautionary statements related to Cadence’s business,
please refer to Cadence’s most recent reports on Form 10-K and 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 does not undertake any obligation to update
any forward-looking statement in this press release.
© 2023 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.
Category: Featured
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version on businesswire.com: https://www.businesswire.com/news/home/20231002363177/en/
Cadence Newsroom 408-944-7039 newsroom@cadence.com
Yaniv Arieli CEVA, Inc. CFO +1.650.417.7941
yaniv.arieli@ceva-dsp.com
Richard Kingston CEVA, Inc. VP Market Intelligence, Investor
& Public Relations +1.650.417.7976
richard.kingston@ceva-dsp.com
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