Cadence completes acquisition of Evatronix IP business

The Evatronix team will report to Martin Lund, Cadence's senior vice president of research and development, SoC Realization Group. The acquisition is not expected to have a material impact on Cadence's balance sheet or second quarter or fiscal 2013 results of operations. Terms of the transaction were not disclosed. "Further strengthening Cadence's portfolio of intellectual property cores, Evatronix delivers a silicon-proven IP portfolio, which includes certified USB 2.0/3.0, MIPI, display, and storage controllers, which are highly complementary to Cadence's IP product line", says a press release.