Electronics Production |
Cadence to acquire Denali
Cadence Design Systems and Denali Software have entered into a definitive merger agreement.
Cadence will acquire Denali for $315 million in cash. Denali is expected to have approximately $45 million in cash at closing. In alignment with its EDA360 strategy, this transaction expands Cadence’s solution portfolio to deliver efficient and cost-effective system component modeling and IP integration.
The transaction was unanimously approved by the Cadence and Denali Boards of Directors.
Cadence intends to finance the transaction with available cash.