Cadence Design Systems has acquire Cosmic Circuits. 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.
Cadence Design Systems (I) Pvt Ltd., a subsidiary of Cadence Design Systems, Inc. (NASDAQ: CDNS), the leader in global electronic design innovation, announced that Cosmic Circuits, a leading provider of differentiated analog IP cores, has adopted the Cadence® Virtuoso® IC 6.1 custom design platform. After extensive and rigorous testing, Cosmic selected Virtuoso IC 6.1 for its complex analog and mixed-signal layout flow, and immediately gained 30 percent improvement in productivity and turnaround time over its previous flow.