Cadence Design Systems has agreed to acquire configurable processor IP company Tensilica for around $380m in cash.
The acquisition will add processor IP used in mobile, infrastructure, in-car entertainment and consumer applications, to Cadence’s IP portfolio.
“With Tensilica, we will be able to provide designers with a more complete system-on-chip (SoC) solution,” said Lip-Bu Tan, president and chief executive officer of Cadence.
The design tool and silicon IP company insists that the acquisition of Tensilica's configurable processors will not affect its partnerships with other processor firms, such as ARM.
“The acquisition of Tensilica by Cadence will be a positive move for the industry,” said Simon Segars, president of ARM Holdings plc. “We look forward to expanding our ongoing collaboration with Cadence to enable our customers to bring great products to market.”
Jack Guedj, president and chief executive officer of Tensilica said: “Joining Cadence will provide a broader platform to expedite our product development strategy and customer engagement. We will have the ability to accelerate IP subsystem development and integration while providing a more extensive support network to our customers.”
Tensilica had approximately $30 million of cash as of December 31, 2012.
