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Cadence, Quickturn merge

Deal worth $253 million

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Cadence said today it will merge with Quickturn Design Systems in a share-for-share deal worth $253 million. Cadence is an electronic design software and services company while Quickturn specialises in emulation systems and other engineering services for Ics and electronic systems. Said Jack Harding, CEO of Cadence: "As the complexity of chip design increases, the complexity of verification increases. By integrating Quickturn's hardware-based emulation approach with our software design and simulation systems, we will dramatically improve our ability…for faster development of high speed systems on a chip." The deal will be accounted for as a pooling of interests. ®

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