Cadence Design Systems
announced Monday that it will acquire privately held
, a maker of formal verification electronic design software.
The terms of the deal weren't disclosed, and a representative for Cadence wouldn't comment.
Ray Bingham, Cadence's president and chief executive said in a press release that Verplex's technology has become the standard for designing high-performance microchips.
"This technology has rapidly won over customers to capture the top half of the market -- leaders in the semiconductor industry -- and now gives us a significant edge in helping customers solve their most difficult problems," he said.
Cadence, a provider of electronic design technologies and services, is currently developing a roadmap for the incorporation of Verplex's products. Verplex is based in Milpitas, Calif.
Shares of Cadence were recently up 27 cents to $13.32 on the
New York Stock Exchange