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Cadence Design Systems' CEO Discusses Q4 2012 Results - Earnings Call Transcript

Growing adoption of our Encounter digital solution was highlighted in 2011 by key displacements at two major semiconductor companies and significant business wins at many other customers.

In 2011 our Virtuoso 6.1 strengthened its position as the platform of choice for doing custom and analog design. Virtuoso, based on the industry standard open access database is enabling a paradigm shift from traditional connectivity-driven to a more automated constraint-driven methodology that is delivering a 2x productivity improvement.

To address the challenge of integrating hardware and software for complex systems, in 2011 we launched a system development suite. The suite includes two new products, the virtual system platform and rapid prototyping platform, both of which are already in production use at several customers.

In 2011 we made two important acquisitions, Altos and Azuro. The Azuro technology is now offered with the Encounter digital IC design platform and has been a critical factor in winning several design benchmarks. The products we acquired with Altos are recognized as the leading solutions for IP library characterization, helping customers produce higher quality designs at advanced technology nodes.

Now let us look at a few of the highlights for Q4. Business was strong across our silicon realization product line. In particular, I want to highlight our verification, mixed signal, and system silicon package [unintelligible] businesses. Today every company doing advanced, complex SOC, especially communication devices and embedded processor design needs more verification capability.

Our incisive verification platform is winning business and gaining share in advanced verification because our technology and methodology advantages, incisive, matrix-driven approach, multilanguage support, mixed signal and low power features, and tight connections with Palladium XP and verification IP and crisp performance and productivity. Our verification business in Q4 was highlighted by our competitive displacement at one major semiconductor company and significant growth of our installed base with another.

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