SAN JOSE, Calif., 16 March 2013. Cadence Design Systems Inc. (NASDAQ:CDNS), an electronic design innovation company, has entered into an agreement to acquire Tensilica Inc., a provider of dataplane processing IP for approximately $380 million in cash.
Tensilica will expand Cadence's IP portfolio with configurable dataplane processing units optimized for embedded data and signal processing.
"With Tensilica, we will be able to provide designers with a more complete SoC (System on a Chip) solution that will speed the development of innovative and differentiated products, while reducing time to market," says Lip-Bu Tan, president and chief executive officer of Cadence.
"Joining Cadence will provide a broader platform to expedite our product development strategy and customer engagement. We will have the ability to accelerate IP subsystem development and integration while providing a more extensive support network to our customers," Jack Guedj, president and chief executive officer of Tensilica, says.
Tensilica customized DPUs augment traditional custom hardware design, offering both time-to-market and programmability advantages and can be optimized to achieve optimal power, performance, and area efficiency. Tensilica IP provides application-optimized subsystems that work synergistically with industry-standard CPU architectures.