DA Davidson Downgrades Cadence Designs (CDNS) to Neutral
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Cadence (CDNS) Acquisition of Will Expand Position in IP Design
March 12, 2013 10:47 AM EDTGriffin Securities today maintained a Buy rating on Cadence Designs (NASDAQ: CDNS) with a price target of $16.00. Yesterday the company announce a $380 million acquisition of Tensilica.
Commenting on developments, anayst Jay Vleeschhouwer said, "The purchase will significantly expand Cadence's position in... More
Cadence Design Systems (CDNS) to Acquire Tensilica for $380 Million
March 11, 2013 4:21 PM EDTCadence Design Systems, Inc. (NASDAQ: CDNS) today announced that it has entered into a definitive agreement to acquire Tensilica, Inc., a leader in dataplane processing IP, for approximately $380 million in cash. Tensilica had approximately $30 million of cash as of December 31, 2012.
Further expanding Cadence's IP portfolio,... More
