Interesting. It seems a wild prediction I made last month will soon materialize :) . This seems like a first step by cadence towards the acquisition of cosmic. (see above link "Cosmic to develop IP for Globalfoundries")
Cadence is EDA and cosmic is in design, not sure if they want to acquire Cosmic. I guess its more to do with financial stability of cosmic.Let us see whats the vision of Cadence CEO on being one of the board of directors.