Cadence Design Systems, Inc. (Nasdaq: CDNS) and National
Instruments Corporation (Nasdaq: NATI) today announced that they
have entered into a definitive agreement pursuant to which Cadence
expects to acquire AWR Corporation, a wholly owned subsidiary of
National Instruments (NI). AWR is an industry leader in
high-frequency RF EDA software technology and will bring a highly
talented RF team to Cadence. Concurrently, Cadence and NI also
entered into a strategic alliance agreement to expand their
relationship to enhance electronic system innovation with a focus
on communications.
AWR software is used by microwave and RF engineers to design
wireless products for complex, high-frequency RF applications. The
technology helps customers accelerate the design and product
development cycle of systems used in communications, aerospace and
defense, semiconductor, computer, and consumer electronics, by
helping reduce the time it takes to go from concept to
manufacturing.
“Companies designing communication and radar chips, modules and
systems face increasing time-to-market pressure in high-growth
5G/wireless applications. Creating differentiated products while
reducing cycle time requires a seamless design, simulation and
analysis environment,” said Dr. Anirudh Devgan, president of
Cadence. “The addition of AWR’s talent and technologies will enable
us to provide more integrated and optimized RF design solutions,
thereby further accelerating system innovation as we execute our
Intelligent System Design strategy.”
Designers are challenged with the traditional RF/microwave
design flow, which consists of processes that are error-prone,
resulting in a loss of productivity and capability. Customers can
benefit from a seamless integration connecting the AWR® Design
Environment with the Cadence® Allegro® PCB Designer and the
industry-leading Virtuoso® and Spectre® platforms for RF integrated
circuit (IC) design excellence. Electromagnetic and thermal
analysis is often difficult and tedious for a designer to setup and
use. To address this, the integration also includes Cadence system
analysis tools such as the Clarity™ 3D Solver, Celsius™ Thermal
Solver and Sigrity™ PowerSI® technologies.
“RF/microwave/mmWave applications need best-in-class solutions
to achieve first-pass success with optimal design performance,”
said Joseph E. Pekarek, general manager of AWR. “By joining forces
with Cadence, our goal is to be able to leverage the strength and
heritage of the Virtuoso and Allegro platforms along with the AWR
Design Environment platform to deliver complete solutions for
complex ICs, packages and boards.”
The flows resulting from the integration of AWR technology with
Cadence computation software are expected to be tightly connected
with the NI LabVIEW and PXI modular instrumentation systems and
semiconductor data platform as part of a new strategic alliance.
For more information on the Cadence and NI strategic alliance,
please visit ni.com/nati/news.
Under the terms of the definitive agreement, Cadence will pay
approximately $160 million in cash at closing and expects
approximately 110 AWR employees to join Cadence. The acquisition is
expected to close in the first quarter of 2020 and is subject to
customary closing conditions, including regulatory approval.
About Cadence
Cadence enables electronic systems and semiconductor companies
to create the innovative end products that are transforming the way
people live, work and play. Cadence software, hardware and
semiconductor IP are used by customers to deliver products to
market faster. The company’s Intelligent System Design™ strategy
helps customers develop differentiated products—from chips to
boards to intelligent systems—in mobile, consumer, cloud, data
center, automotive, aerospace, IoT, industrial and other market
segments. Cadence is listed as one of Fortune Magazine’s 100 Best
Companies to Work For. Learn more at www.cadence.com.
About National Instruments
NI (ni.com) develops high-performance automated test and
automated measurement systems to help you solve your engineering
challenges now and into the future. Our open, software-defined
platform uses modular hardware and an expansive ecosystem to help
you turn powerful possibilities into real solutions. Learn more at
www.ni.com.
Cadence Forward-Looking Statements
This press release contains forward-looking statements,
including statements regarding the expected benefits to Cadence,
its products and its customers from the expected acquisition and
the strategic alliance and the expected timing in which the closing
of the expected acquisition will occur, that are based on current
expectations and preliminary assumptions that are subject to
factors and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements.
These forward-looking statements are subject to a number of risks,
uncertainties and other factors, many of which are outside
Cadence’s control, including the effects of the expected
acquisition on Cadence’s financial results and business, the
ability to successfully operate or integrate the AWR business into
Cadence, the ability to retain and integrate AWR employees into
Cadence, the ability to realize the expected benefits of the
strategic alliance agreement, the changes in customer demands and
markets, and other risk factors set forth in Cadence’s most recent
reports on Form 10-K and Form 10-Q. Cadence undertakes no
obligation to update any forward-looking statement in this press
release.
National Instruments Forward-Looking Statements
This press release contains certain forward-looking statements
of NI, including statements that Cadence expects to acquire AWR,
that the strategic alliance agreement will expand their
relationship to enhance electronic system innovation with a focus
on communications, AWR’s goal being able to leverage the strength
and heritage of the Virtuoso and Allegro platforms along with the
AWR Design Environment platform to deliver complete solutions for
complex ICs, packages and boards, that the flows resulting from the
integration of AWR technology with Cadence computation software are
expected to be tightly connected with the NI LabVIEW and PXI
modular instrumentation systems and semiconductor data platform as
part of a new strategic alliance and that the acquisition is
expected to close in the first quarter of 2020. These
forward-looking statements are subject to numerous risks,
uncertainties and other factors, many of which are outside of the
control of NI, including, among others: the failure or inability of
Cadence or NI to meet the closing conditions or to otherwise
consummate the AWR transaction, the timing and ability to of the
parties to obtain regulatory approval, the ability of the parties
to realize the expected benefits of the strategic alliance
agreement including the integrated product being tightly connected
with the NI LabVIEW and PXI modular instrumentation systems, the
risk of adverse changes or fluctuations in the global economy,
further adverse fluctuations in NI’s industry, foreign exchange
fluctuations, fluctuations in demand for NI products including
orders from NI’s large customers, component shortages, delays in
the release of new products, NI’s ability to effectively manage its
operating expenses, manufacturing inefficiencies and the level of
capacity utilization, the impact of any recent or future
acquisitions by NI, expense overruns, and adverse effects of price
changes or effective tax rates. Actual results may differ
materially from the expected results. NI directs readers to its
Form 10-K for the year ended Dec. 31, 2018, its Form 10-Q for the
quarter ended September 30, 2019 and the other documents it files
with the SEC for other risks associated with its future
performance. NI undertakes no obligation to update any
forward-looking statement in this press release. Stockholders are
cautioned not to place undue reliance on the forward-looking
statements herein, which speak only as of the date such statements
are made.
© 2019 Cadence Design Systems, Inc. and National Instruments
Corporation. All rights reserved worldwide.
Cadence, the Cadence logo and the other Cadence marks found at
www.cadence.com/go/trademarks are trademarks or registered
trademarks of Cadence Design Systems, Inc. All other trademarks are
the property of their respective owners.
National Instruments, NI, ni.com and LabVIEW are trademarks of
National Instruments. Other product and company names listed are
trademarks or trade names of their respective companies.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191202005915/en/
Cadence Newsroom 408-944-7039 newsroom@cadence.com
Marissa Vidaurri Head of Investor Relations, National
Instruments 512-773-0856 marissa.vidaurri@ni.com
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