Cadence acquires Cosmic Circuits

Martin Lund, Cadence's senior vice president of R&D for SoC Realization said, "The addition of Cosmic Circuits' stellar technology and talent enhances Cadence's position as a leading provider for analog/mixed-signal IP. The combination of Cadence and Cosmic Circuits will provide customers with high quality IP to accelerate getting products to market." Founded in 2005 and based in Bangalore, India, Cosmic Circuits has been profitable from its first year of operation and has more than 75 customers worldwide. The company received TSMC's 2010 and 2012 awards for Analog/Mixed Signal IP Partner of the Year. Ganapathy Subramaniam, CEO of Cosmic Circuits said, "Cosmic Circuits has a strong track record working with leading foundries to qualify and sell silicon-proven IP in advanced nodes. Our focus on low-power mobile and time-to-market critical consumer IP markets will add to Cadence's existing strength in high-speed serial IP for cloud/server applications." As part of this transaction, the IC and Systems business of Cosmic Circuits will be spun off into a separate new company to be owned by certain existing shareholders of Cosmic Circuits. The acquisition is expected to close in 30 to 60 days, and is not expected to have a material impact on Cadence's 2013 results of operations. Terms of the transaction were not disclosed.