Cadence Design Systems: Difference between revisions

Revision as of 16:30, 21 August 2025

Revision as of 23:34, 24 August 2025

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Founded in 1983 in [[San Jose, California]],<ref name="OriginalRef_Sorkin_nytim.com"/> Cadence Design Systems began as an [[Electronic design automation|electronic design automation (EDA)]] company named Solomon Design Automation (SDA).<ref name="OriginalRef_NYTStaff1_nytimes.com"/> SDA's cofounders included [[James Solomon]], [[A. Richard Newton|Richard Newton]],<ref name="OriginalRef_NYTStaff1_nytimes.com"/> and [[Alberto Sangiovanni-Vincentelli]].<ref name="OriginalRef_NYTStaff1_nytimes.com"/><ref>{{Cite web|url=https://www.eetimes.com/author.asp?section_id=67&doc_id=1285941|title=Alberto Sangiovanni-Vincentelli receives EDAA Lifetime Achievement Award|last=Bailey|first=Brian|date=December 20, 2017|website=EE Times}}</ref> Cadence was formed by the merger of SDA and [[ECAD, Inc.|ECAD]]. A public company,<ref name="OriginalRef_NYTStaff1_nytimes.com"/> ECAD had been co-founded by Ping Chao, Glen Antle, and Paul Huang in 1982.<ref name="OriginalRef_NYTStaff1_nytimes.com"/>{{Not in source|date=March 2024}} Cadence Design Systems was officially formed through the 1988 merger of SDA and ECAD,<ref name="OriginalRef_NYTStaff1_nytimes.com"/> with [[Joseph Costello (software executive)|Joseph Costello]] appointed both CEO and president of the newly combined company. After the merger, Cadence began trading on the [[New York Stock Exchange]] and Costello oversaw further mergers and acquisitions.<ref name="OriginalRef_NYTStaff1_nytimes.com">NYTimes [https://www.nytimes.com/1991/10/04/business/business-people-a-fun-chief-at-cadence-is-serious-merger-man.html A Fun Chief at Cadence Is Serious Merger Man] Retrieved October 4, 1991</ref>

In 1989, the company acquired [[Gateway Design Automation]] for $72 million.<ref name="OriginalRef_staff_nytimes.com_gateway"/> In 1990 it acquired Automated Systems Inc., and in doing so added "board design to its existing line of chip design software."<ref name="OriginalRef_Staff4_nytimes.com"/> In 1991, Cadence acquired its rival [[SCALD|Valid Logic Systems]] for around $200 million, its biggest acquisition yet. The revenues of the combined company were $390 million, making Cadence "the largest provider of the software used by electronic engineers to design computer chips and circuit boards," according to the ''New York Times.''<ref name="OriginalRef_NYTStaff1_nytimes.com"/>

In 1996, Cadence acquired High Level Design Systems,<ref name="Ref_staff10_nytimes.com"/> at which point Cadence had 3,300 employees and $742 million in annual revenue. Following the resignation of Cadence's original CEO Joe Costello in 1997, Jack Harding was appointed CEO.<ref>WSJ [https://www.wsj.com/articles/SB877391809854588000 Cadence's Costello Steps Down As CEO to Join Software Firm] Retrieved October 21, 1997</ref> Ray Bingham was named CEO in 1999.<ref>EETimes [https://www.eetimes.com/harding-replaced-as-cadence-president/ Harding replaced as Cadence president] Retrieved April 27, 1999</ref> Cadence purchased Ambit Design Systems for $260 million, which made tools for [[system-on-a-chip]] technology, in 1998,<ref name="Ref_Nellis2_Reuters.com"/> and [[OrCAD Systems]] in 1999.<ref name="OriginalRef_staff6_eetimes"/> AfterCadence acquiring [[Assignoracquired estoppel|Quickturn Design]] Systems in 1999, Cadence was described as a "white knight" for the act by the ''New York Times'', as Quickturn had been subject topreventing a [[hostile takeover]] attempt by Cadence's rival [[Mentor Graphics]].<ref name="OriginalRef_Staff3_nytimes.com"/>

===2000–2019===