Cadence to buy Tensilica for $380million

"With Tensilica, we will be able to provide designers with a more complete SoC solution that will speed the development of innovative and differentiated products, while reducing time to market," said Lip-Bu Tan (pictured), president and ceo of Cadence. The all cash transaction is expected to close in Q2 2013. ARM's president Simon Segars described the acquisition as a "positive move for the industry". Jack Guedj, president and ceo of Tensilica, commented: "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."