Cadence expands verification solution with acquisition of Jasper

Cadence Design Systems has entered into a definitive agreement to acquire Jasper Design Automation for approximately USD 170 million in cash.
Jasper Design Automation is provider of formal analysis solutions, providing multiple verification solutions (Verification Apps) built on the JasperGold platform.

“Jasper’s products are recognized as the technology leaders in formal analysis, targeting complex verification challenges and increasing overall verification productivity,” said Charlie Huang, senior vice president of the System & Verification Group and Worldwide Field Operations at Cadence. “Jasper’s formal analysis solutions are used by customers today alongside Cadence’s metric-driven verification flow to form a broad verification solution. We look forward to welcoming Jasper’s strong formal development expertise and skilled team to Cadence.”

“Jasper and Cadence serve top-tier customers that will benefit from expanded formal technology and a broader, tightly-integrated verification solution,” said Kathryn Kranen, president and CEO of Jasper. “The verification technologies, when combined, will benefit customers through a comprehensive metric-driven verification approach that unites formal and dynamic techniques, realizing the strength of each and leveraging the integration between them.”

Cadence intends to finance the transaction with available cash and an existing revolving credit facility. The transaction is expected to close in the second quarter of fiscal 2014, subject to customary closing conditions including regulatory approvals

Read more: http://evertiq.com/design/34224

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