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Cadence (Nasdaq: CDNS) today announced it has completed the previously announced acquisition of Secure-IC, a leading provider of embedded security IP, security solutions and security evaluation tools and services.
By combining Cadence's decades of expertise in IP and subsystem design with Secure-IC's leading embedded cybersecurity solutions, the acquisition positions Cadence to address the growing demand for robust embedded security solutions across verticals, including automotive, data center, aerospace and defense, mobile, IoT and consumer electronics. With this acquisition, Cadence reinforces its commitment to delivering comprehensive system solutions that accelerate customers' time to market while meeting increasing security and regulatory requirements across global markets.
The acquisition is expected to be immaterial to revenue and earnings this year. More information can be found at www.cadence.com .
About Cadence
Cadence is a market leader in AI and digital twins, pioneering the application of computational software to accelerate innovation in the engineering design of silicon to systems. Our design solutions, based on Cadence's Intelligent System Design™ strategy, are essential for the world's leading semiconductor and systems companies to build their next-generation products from chips to full electromechanical systems that serve a wide range of markets, including hyperscale computing, mobile communications, automotive, aerospace, industrial, life sciences and robotics. In 2024, Cadence was recognized by the Wall Street Journal as one of the world's top 100 best-managed companies. Cadence® solutions offer limitless opportunities—learn more at www.cadence.com .
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding Cadence's acquisition of Secure-IC, Cadence's talent, technologies and product offerings, business strategy, plans and opportunities, industry and market trends and the expected benefits and impact of the transaction and combined business on Cadence's growth. Forward-looking statements are based on current expectations, estimates, forecasts and projections. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," "shall" and variations of these terms and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to a number of risks, uncertainties and other factors, many of which are outside Cadence's control. For example, the markets for Cadence's products and services may develop more slowly than expected or than they have in the past; operating results and cash flows may fluctuate more than expected; Cadence may fail to successfully integrate Secure-IC; Cadence may fail to realize the anticipated benefits of the acquisition; Cadence may incur unanticipated costs or other liabilities in connection with the acquisition or integration of Secure-IC; the consummation of the acquisition may negatively impact relationships with third parties, including employees, customers, partners and competitors; Cadence may be unable to motivate and retain key personnel; changes in or failure to comply with legislation, government regulations or regulatory conditions could affect Cadence's business, operating results, reputation and financial condition; and macroeconomic and geopolitical conditions could deteriorate. Further information on potential factors that could affect Cadence's ability to successfully integrate Secure-IC or otherwise realize the anticipated benefits of the acquisition is included in Cadence's most recent report on Form 10-K, its subsequent quarterly reports on Form 10-Q and its other filings with the Securities and Exchange Commission. The forward-looking statements included in this press release represent Cadence's views as of the date of this press release, and Cadence disclaims any obligation to update any of them publicly in light of new information or future events.
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