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CADENCE DESIGN SYSTEMS INC 8-K Report, Acquisition Completed (Apr 24, 2013)

Reports
Earnings & Results·Acquisitions & Dispositions·Exhibits & Filings
Filing Date
Filed April 24, 2013
Period End
April 22, 2013
Security
CDNS
In the record · 2016–202610-K1210-Q328-K98

CDNS filed 12 annual reports (10-K), 32 quarterly reports (10-Q) and 98 current reports (8-K) between 2016 and 2026.

  1. FY2016 annual report10-K · Feb ’17Feb ’17
  2. Leadership change8-K · May ’19May ’19
  3. Leadership change8-K · Jul ’21Jul ’21
  4. Material agreement8-K · Sep ’25Sep ’25

01—Abstract

Summary

Summary of the 8-K filed April 24, 2013. Cited figures are marked; the original filing is the authoritative source.

Cadence Design Systems, Inc. (CDNS) announced the completion of its acquisition of Tensilica, Inc. on April 22, 2013.

This strategic move involved a cash outlay of approximately $326 milliona, after accounting for Tensilica's cash balance and transaction costs. As part of the deal, Cadence also assumed unvested stock options held by Tensilica employees who will join Cadence.

This acquisition is significant as it expands Cadence's intellectual property and technology portfolio, likely strengthening its competitive position in the electronic design automation (EDA) market. Investors should monitor how the integration of Tensilica impacts Cadence's revenue growth, profitability, and market share in the coming quarters.

02—Key points

Key Highlights

  1. Cadence Design Systems (CDNS) completed the acquisition of Tensilica, Inc. on April 22, 2013.
  2. The cash consideration for the acquisition was approximately $326 million, net of Tensilica's cash and adjustments.
  3. Cadence also assumed unvested stock options granted to Tensilica employees.
  4. Tensilica will become an indirect wholly-owned subsidiary of Cadence.
  5. The filing also announced Cadence's first-quarter 2013 financial results via a press release.
  6. The acquisition is expected to enhance Cadence's product offerings and market position.

03—Questions

Frequently Asked Questions

  1. What was the total cost of the Tensilica acquisition?

    The cash outlay at closing was approximately $326 million, after accounting for Tensilica's cash of an estimated $25 million held at closing and certain costs.

  2. What is the strategic rationale behind acquiring Tensilica?

    While not explicitly detailed in this 8-K, the acquisition of Tensilica, a provider of configurable processor cores and associated tools, is expected to enhance Cadence's intellectual property and technology portfolio, likely strengthening its competitive position in the electronic design automation (EDA) market.

  3. What other significant event was announced in this filing?

    Cadence also issued a press release on April 24, 2013, announcing its financial results for the first quarter ended March 30, 2013.

  4. Did Cadence assume any liabilities related to Tensilica's employees?

    Yes, Cadence assumed the unvested stock options granted to Tensilica employees who became employees of Cadence after the merger.

04—Continue

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