Cadence Design Systems, Inc. today announced that it has completed the acquisition of Jasper Design Automation, Inc.
The Jasper team, led by Kathryn Kranen, will join the System & Verification Group reporting to senior vice president Charlie Huang.
Cadence financed the transaction using available cash and an existing revolving credit facility. Cadence expects the transaction to be accretive to its non-GAAP earnings per share in fiscal 2015 after the impact of merger-related accounting. The impact on fiscal 2014 non-GAAP earnings per share will be provided when Cadence reports its second quarter fiscal 2014 financial results. The impact on GAAP earnings per share will be available after the completion of valuation and purchase accounting.
The completion of this transaction expands differentiation of Cadence’s System Development Suite, Cadence’s flagship system design and verification platform. Integration of Jasper’s solutions with Cadence’s connected debug analysis and software and hardware verification platforms will improve customers’ ability to leverage Cadence’s unified verification planning, metric-driven verification flow, and extensive dynamic and formal Verification IP portfolio for embedded processor system verification.