Cadence to Acquire Intrinsix Corporation from CEVA
Cadence Design Systems and CEVA, a licensor of wireless connectivity and smart sensing technologies, have entered into a definitive agreement for Cadence to acquire CEVA's subsidiary Intrinsix Corporation, a provider of design engineering solutions focused on the US aerospace and defense industry.
The purchase will bring a skilled engineering team that has expertise in advanced nodes, radio frequency, mixed-signal and security algorithms to Cadence.
“CEVA’s strength over the years has been in developing and licensing semiconductor IP and software, which has powered more than 16 billion devices to date,” says Amir Panush, CEO of CEVA in a press release. “With the sale of Intrinsix, we are focusing our efforts on this core expertise, which will allow us to reinforce our leadership position in wireless communications, sensing and edge AI technologies and support our long-term growth strategy.”
The acquisition is expected to expand Cadence's reach in the aerospace and defense industry, and strengthen CEVA’s focus on IP for high-growth technologies addressing wireless communications, sensing and edge AI
“Cadence and Intrinsix are well-aligned in their missions to enable customers to achieve design excellence,” said Neil Zaman, Senior Vice President and Chief Revenue Officer at Cadence. “Through the acquisition of Intrinsix, we will scale our system and IC design services team to support customers in key high-growth verticals like the aerospace and defense industry who are faced with meeting tight time-to-market deadlines and ever-increasing chip and system-level complexity.”