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Cadence buys Verisity

Posted: 14 Jan 2005 ?? ?Print Version ?Bookmark and Share

Keywords:verisity? specman elite testbench? axis esl emulation?

Cadence Design Systems Inc. has signed a definitive agreement to acquire Verisity Ltd for $12 per share in an all cash deal. In the acquisition, Cadence gains Verisity's Specman Elite testbench generation tool and Axis ESL emulation environment, which Verisity acquired in December of 2003.

Cadence announced that upon completion of the Verisity acquisition, Moshe Gavrielov, CEO of Verisity, will join the Cadence executive management team, and Yoav Hollander, founder and CTO, will play an integral role in setting Cadence's verification technology direction.

"The global electronics industry is under unprecedented pressure to develop and bring to market innovative products as quickly as possible," said Mike Fister, president and CEO, Cadence Design Systems in a statement. "Our acquisition of this highly innovative team and successful business is consistent with Cadence's focus on enabling the world's leading electronics companies to address the demand for increasingly complex systems."

- Mike Santarini

EE Times

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