Cadence Design Systems Inc has agreed to acquire Design Acceleration Inc, a San Jose, California-based supplier of design automation technology, for $27m in cash and Cadence common stock. DAI’s tools are focused on system-on-a-chip verification. If approval is obtained, 40 employees from DAI will transfer to Cadence, also based in San Jose. The plan is to integrate the tools, including future products, into Cadence’s mainstream product line. Dean Drako, president and CEO of DAI, said that most of the company’s customers were also Cadence users. The privately-held company was formed in 1993, and claims 400 major corporations on its customer list.
