Cadence to buy Denali

SAN FRANCISCO, USA: Cadence Design Systems Inc, the EDA supplier has terminated the $315 procurement of memory IP vendor Denali Software Inc. Last month, the company declared its plans to purchase Denali through a definitive agreement.

The founders of Denali, Sanjay Srivastava and Mark Gogolewski, will turn up a statement to Nimish Modi, senior vice president of research and development for Cadence's Front End Group. The deal supports Cadence's solution portfolio to provide efficient and cost-effective system component modeling and IP integration and both the companies' boards of directors approved the deal equivocally.

Lip-Bu Tan, the president and chief executive officer of Cadence, cited in a report that Denali's strengths in memory models, design IP and verification IP will boost the implementation of Cadence's recently announced EDA360 vision which leads to the creation of new prospects for the company.

In turn, Denali's president and CEO, Sanjay Srivastava said that since Cadence is a leader in global electronic design systems, it certainly suits Denali and its employees. They are excited to be a part of the Cadence team and to help realize the EDA360 vision, he said.

Cadence's EDA360 is mainly based on three components. They are system realization, SoC realization and silicon realization.