LONDON – EDA company Cadence Design Systems Inc. has announced an agreement to acquire analog and mixed-signal IP core developer Cosmic Circuits Pvt. Ltd. The purchase price was not disclosed.
As part of the transaction the IC and systems development business of Cosmic Circuits (Bangalore, India) will be spun off into a separate company to be owned by certain existing shareholders of Cosmic Circuits.
Cosmic Circuits, founded in 2005, has been profitable from its first year of operation and has more than 75 customers worldwide. In 2011 Lip-Bu Tan, CEO of Cadence (San Jose, Calif.) joined the board of directors.
The startup has enjoyed success providing IP cores for mobile devices including USB, MIPI, audio and Wi-Fi cores designed for 40- and 28-nm nodes and claims more than 50 million ICs containing its IP shipped in 2012. Cosmic has 20-nm and FinFET IP under development.
"Our focus on low-power mobile and time-to-market critical consumer IP markets will add to Cadence's existing strength in high-speed serial IP for cloud/server applications," said Ganapathy Subramaniam, CEO of Cosmic Circuits, in a statement issued by Cadence.
The acquisition is expected to close in 30 to 60 days.